.

16. Use the following information to calculate the company's accounting net income for the year.

Credit Sales	$800,000
Cash Sales	$500,000
Operating Expenses on Credit	$200,000
Cash Operating Expenses	$700,000
Accounts Receivable (Beg. of Year)	$50,000
Accounts Receivable (End of Year)	$80,000
Accounts Payable (Beg. of Year)	$50,000
Accounts Payable (End of Year)	$100,000
Corporate Tax Rate	40%

(Points : 2)

$300,000

$240,000

$125,000

$120,000