Brlef Exerclse 2-21 (Statlc) Cash versus accrual accounting [LO2-9] New Consulting Company maintains its records on a cash basis. During the year, the following cash flows were recorded: cash received for services rendered to clients, $420,000; and cash paid for salaries, utilities, and advertising. $240,000, $35,000, and $12,000, respectively. You also determine that customers owed the company $52,000 and $60,000 at the beginning and end of the year, respectively, and that the company owed the utility company $6,000 and $4,000 at the beginning and end of the year. respectively. Complete the table to determine accrual net income for the year