The bookkeeper for Geronimo Company has prepared the following balance sheet as of July 31. 2014. The following additional information is provided. Cash includes 51.200 in a petty cash fund and $1x000 in a bond sinking fund. The net accounts receivable balance is comprised of the following two items: (a) accounts receivable $44,000 and (b) allowance for doubtful accounts $3,500. Inventor,- costing $5,300 was shipped out on consignment on July 31. 2014. The ending inventory balance does not include the consigned goods. Receivables in the amount of $5,300 were recognized on these consigned goods. Equipment had a cost of $112.000 and an accumulated depreciation balance of $28,000. Income taxes payable of $6,000 were accrued on July 31. Geronimo Company, however, had set up a cash fluid to meet this obligation. This cash fluid was not included in the cash balance but was offset against the income taxes payable amount