2. Murdock and Associates, LLP, is a public accounting firm that provides audit and tax preparation services to local business. Murdock is preparing period-end financial statements and has accumulated the following financial information for the year.: Service Revenues Beginning Services in Process Ending Services in Pro Direct Labor Wages Administrative Salaries Office Rent Supplies Used Tax Rate $1,200,000 $2,000 $2,500 $400,000 S300,000 $10,000 $2,500 30% cess What was Murdock's Net Income for the period