Brooks Corp. maintains its accounting records on a cash basis during the year. Brooks converts its information to an accrual basis at year-end. The following information is available for Brooks for 2020. 2020 2019 2020 For Year Ended December 31 As of December 31 Accounts receivable.. Deferred revenue Accrued liabilities Prepaid lease expense. $68,000 8,800 16,000 6,200 $72,000 7,000 16,500 4,500 Cash receipts from customers Cash paid for operating expenses Depreciation expense. . $612,000 480,000 50,000 Required Calculate net income on an accrual basis for Brooks Corp. for 2020