1) Claymore Corporation maintains its book on a cash basis. During 2021, the company collected $825,000 in fees from its clients and paid $512,000 in expenses. You are able to determine the following information about accounts receivable, supplies, prepaid rent, salaries payable, and interest payable: Accounts receivable Supplies Prepaid rent Salaries payable Interest payable January 1, 2021 December 31, 2021 $110,000 $120,000 15,000 18,000 12,000 11,000 16,500 14,200 4,000 5,500 In addition, 2021 depreciation expense on office equipment is $55,000. Required: Determine accrual-basis net income for 2021