Arch Associates Reports the Following Comparative Balance Sheets and Income

Arch Associates reports the following comparative balance sheets and income statement information.The amount of cash collected from customers during Year 2 was: Arch Associates
Comparative Balance Sheets
$$\begin{array}{l}\begin{array} {| l | l | l | } \hline &12/31/2013&12/31/2014\\\hline \text {Cash }&\$ 12,000&\$ 22,000\\\hline \text {Accounts receivable}&4,000&8,000 \\\hline \text {Prepaid insurance }&10,000&8,000 \\\hline \text {Inventory }&6,000& 2,000\\\hline \text {Property, plant and equipment }&12,000&10,000\\\hline \text {Total assets }&\$ 44,000&\$ 50,000\\\hline \text { }&\\\hline \text { Accounts payable } &\$ 8,000& \$ 12,000\\\hline \text { Salaries payable } &10,000&4,000\\\hline \text { Long term notes payable } & 8,000&6,000 \\\hline \text { Stockholders' equity }& 18,000 &28,000 \\\hline \text { Total liabilities and equity } &\$ 44,000&\$ 50,000\\\hline\end{array}\end{array}$$ NEED TO MAKE CHANGES TO TABLE
Change 12/31/13 to:
12/31/Year 1
Change 12/31/14 to:
12/31/Year 2
$$\begin{array} { | l | r | } \hline { \text { Income Statement } } \\\hline { \text { Year Ended 12/31/14 } } \\\hline \text { Revenue } & \$ 70,000\\\hline \text { Cost of goods sold } & 40,000 \\\hline \text { Gross margin } & 30,000\\\hline \text { Operating expense } & 20,000 \\\hline \text { Net income } &\$ 10,000 \\\hline\end{array}$$ NEED TO MAKE CHANGES TO TABLE
Change 12/31/14 to:
12/31/Year 2

A) $66,000.
B) $62,000.
C) $74,000.
D) $70,000.
NEED TO MAKE CHANGES TO TABLE
Change 12/31/13 to:
12/31/Year 1
Change 12/31/14 to:
12/31/Year 2
NEED TO MAKE CHANGES TO TABLE
Change 12/31/14 to:
12/31/Year 2