Debbie runs a business that sells cell phones. Debbie reports on the accrual basis for both tax and financial reporting. In Y1, her cell phone sales totaled $1,000,000. Several of Debbies customers typically buy on credit. As of end of Y1, her ending accounts receivables are $450,000. Industry data shows that she will not collect 6% of the receivables. Additionally, one of Debbies customers went through bankruptcy in Y1 and Debbie could no longer collect a receivable of $17,000. Debbie uses the allowance method for GAAP and the direct write-off method for tax. Assuming Debbie has no other revenue or expenses in the current year, what is Debbies Net Income for financial reporting and Taxable Income for income tax purposes?