Exercise 18-26 (Algorithmic) (LO. 2) Gaffney Corporation is a wholesale distributor of auto parts and uses the cash method of accounting. The company's sales have been about $16,800,000 per year for the last few years. However, Gaffney has the opportunity to acquire an unincorporated competitor with annual sales of $18,480,000. Complete the following paragraph regarding the accounting implications of acquiring the competitor. For the year of acquisition, Gaffney and the acquired business will be treated as a single business. Gaffney must consider the combined gross receipts of both businesses in determining if the average annual gross receipts for the prior three-year period exceed $? statutory threshold. Therefore, Gaffney will likely be required to change to the accrual method for the year of the acquisition.