Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from customers, $385,000; Cash paid for rent, $49,000; Cash paid to employees for services rendered during the year, $129,000; Cash paid for utilities, $59,000.

In addition, you determine that customers owed the company $69,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $2,900 at year-end, and the rent payment was for a two-year period.

Calculate accrual net income for the year.