Selected Balance Sheet account balances are: WU COMPANY $ Cash Accounts Payable Accounts Receivable Salaries Payable Land Merchandise Inventory Machinery Prepaid Rent Income Taxes Payable December 31 2012 2011 37,000 $ 16,000 32,000 26,000 192,000 220,000 7,000 13,000 85,000 70,000 63,000 76,000 98,000 72,000 28,000 17,000 1,000 4,000 Selected Income Statement and other items for the year 2012 are: Sales Cost of Goods Sold Salary Expense Gain on Sale of Machine Cash Dividends declared and paid Depreciation Expense Rent Expense Income Taxes Expense 943,000 504,000 200,000 30,000 20,000 54,000 90,000 35,000 Net income (loss) for 2012 is: O $ 20,000. $ 70,000. $10,000. $ 90,000 none of the above