The following income statement and selected balance sheet account data are available for Treece, Inc., at December 31, 2021 Revenue: Net sales Dividend income Interest income TREECE, INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2021 Gain on sales of marketable securities Total revenue and gains Costs and expenses: Cost of goods sold, Operating expenses Interest expense Income tax expense Total costs and expenses Net income $1,550,000 980,000 185,000 90,000 $2,850,000 104,000 70,000 4,000 $3,028,000 Selected account balances: Accounts receivable Accrued interest receivable Inventories Short-term prepayments Accounts payable (merchandise suppliers) Accrued operating expenses payable Accrued interest payable Accrued income taxes payable End of Year $ 650,000 9,000 800,000 2,805,000 $223,000 Beginning of Year $ 720,000 6,000 765,000 20,000 15,000 570,000 562,000 65,000 94,000 21,000 12,000 22,000 35,000