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Listed below are several transactions that took place during the second and third years of operations for the RPG Company, Year 2 Year 3 $310,000 $410,000 220,000 360,000 Amounts billed to customers for services rendered Cash collected from credit customer's Cash disbursements: Payment of rent Salaries paid to employees for services rendered during the year Utilities Advertising 76,000 136,000 26,000 13,000 156,000 35,000 31,6 In addition, you learn that the company incurred advertising costs of $21000 in year 2, owed the advertising agency $4,600 at the end of year 1, and there were no linbilities at the end of year 3. Also, there were no anticipated bad debts on receivables, and the rent payment was for a two-year period, year 2 and year 3. Required: 1. Calculate accrual net income for both years 2. Determine the amount due the advertising agency that would be shown as a liability on RPG's balance sheet at the end of year 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 = Calculate accrual net income for both years. Year 2 Year 3 Revenues Expenses Rent Salaries Utilities Advertising Net Income Required Required 2 > 2. Determine the amount due the advertising agency that would be shown as a liability on RPG's balance sheet at the end of year 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the amount due the advertising agency that would be shown as a liability on RPG's balance sheet at the end of year 2 Advertising ability at end of Year 2

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