Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from customers, $340.000: Cash paid for rent, $40,000; Cash paid to employees for services rendered during the year $120,000: Cash paid for utilities, $50,000. In addition, you determine that customers owed the company $60.000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $2.000 at year end, and the rent payment was for a two-year period. Calculate accrual net income for the year