Cash flows during the first 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 fo

Cash flows during the first 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