Amounts billed to customers for services rendered Cash collected from credit customers Cash disbursements: Payment of rent Salaries paid to employees for services rendered during the year Utilities Advertising Year 2 Year 31 $410,000 $510,000 320,000 460,000 86,000 146,000 166,000 36,000 46,000 18,000 41,000 In addition, you learn that the company incurred advertising costs of $31,000 in year 2, owed the advertising agency $5,600 at the end of year 1, and there were no liabilities at the end of year 3. Also, there were no anticipated bad debts on receivables, and the rent payment was for a two-year period, year 2 and year 3. Required: 1. Calculate accrual net income for both years. 2. Determine the amount due the advertising agency that would be shown as a liability on RPG's balance sheet at the end of year 2. Complete this question by entering your answers in the tabs below. Required 1 Required Calculate accrual net income for both years. Revenues Expenses Rent Salaries Utilities Advertising Net income Year 2 Year 3 $ 410,000 $ 510,000