Selected information from Pharoah Ltd's statement of financial position and statement of income is as follows: Current liabilities \begin{tabular}{lrr} Accounts payable & 3,950 & 2,000 \\ Income tax payable & 1,200 & 500 \\ Property tax payable & 2,300 & 1,050 \\ Bank loan payable-current portion & 5,100 & 8,200 \end{tabular} PHAROAHLTD. Statement of Income Year Ended December 31, 2021 \begin{tabular}{lr} Sales & $185,000 \\ Cost of goods sold & 113,000 \\ \cline { 2 - 2 } Gross profit & 72,000 \end{tabular} Additional information: 1. The bank loan was recelved in the past to fenance the purchare of equipment: PHAROAH LTD. Statement of Cash Flows (Partial) Operating activities 5 Adjustments to reconcile net income to