Haskins and Jones, Attorneys-at-Law, maintain its books on a cash basis. During 2018, the company collected $545,000 in fees from its clients and paid out $412,000 in expenses. You are able to determine the following information about accounts receivable, prepaid expenses, deferred fee revenue, and accrued liabilities:

In addition, 2018 depreciation expense on office equipment is $22,000.
Required:
Determine accrual basis net income for 2018.

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January 1, 2018 Accounts receivable Prepaid insurance Prepaid rent Deferred fee revenue Accrued liabilities $62,000 4,500 9,200 9,200 12,200 December 31, 2018 $55,000 6,000 8,200 11,000 15,600 (for various expenses)