1) Use the following information to calculate the company's accounting net income for the year. Credit Sales Cash Sales Operating Expenses on Credit Cash Operating Expenses Accounts Receivable (Beg. of Year) Accounts Receivable (End of Year) Accounts Payable (Beg. of Year) Accounts Payable (End of Year) Corporate Tax Rate $800,000 $500,000 $200,000 $700,000 $50,000 $80,000 $50,000 $100,000 40%