5) Use the following information to calculate the company's accounting net income for the year. Sales on credit $400,000 $700,000 Sales (cash) Administrative Expenses $100,000 Selling and marketing Expenses $800,000 Interest Expenses $100,000 Accounts Receivable (Beg. of Year) $50,000 Accounts Receivable (End of Year) $80,000 Accounts Payable (Beg. of Year] $50,000 6 Accounts Payable (End of Year) Corporate Tax Rate $100,000 15%