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Countryside Acres Apartment Complex had the following transactions during the year 2018: Rental income collected for Apts A-F $216,000 12 months prepaid rental from new

Countryside Acres Apartment Complex had the following transactions during the year 2018:

Rental income collected for Apts A-F

$216,000

12 months prepaid rental from new tenant in Apt G who moved in on November 1

36,000

Operating expenses (except for interest)

24,000

Prepaid interest on bank loan, paid in December, for 6 months (including December)

10,200

Using the accrual method, calculate the net income:

Rental income Apts A-F

________

Rental income from new tenant

________

Total income

________

Operating expenses (except for interest)

________

Prepaid interest

________

Total expenses

________

Total net income

________

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