98. During 2025, a textbook written by Mercer Co. personnel was sold to Roark Publishing, Inc., for royalties of 10% on sales. Royalties are receivable semiannually on March 31 , for sales in July through December of the prior year, and on September 30, for sales in January through June of the same year. - Royalty income of $243,000 was accrued at 12/31/25 for the period July-December 2025. - Royalty income of $270,000 was received on 3/31/26, and $351,000 on 9/30/26. - Mercer learned from Roark that sales subject to royalty were estimated at $4,860,000 for the last half of 2026. In its income statement for 2026 , Mercer should report royalty income at