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Cash flows during the year of operations for the Harman-Kardon Consulting Company were as follows:...

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Accounting

Cash flows during the year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from customers,$315,000;Cash paid for rent,$35,000;Cash paid to employees for services rendered during the year,$115,000;Cash paid for utilities,$45,000. In addition, you determine that customers owed the company $55,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,500 at year-end, and the rent payment was for a two-year period. Calculate accrual net income for the year.

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