Cash flows during the first year of operations for the Harman Kardon Consulting Company were as follows: Cash collected from customers. $295.000; Cash paid for rent, $31.000; Cash paid to employees for services rendered during the year. $111.000: Cash pald for utilities, $41.000. In addition, you determine that customers owed the company $51.000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,100 at year-end, and the rent payment was for a two-year period. Calculate accrual net Income for the year. Answer is complete but not entirely correct. $ 277,400 Net income