Gaffney Corporation is a wholesale distributor of auto parts and uses the cash method of accounting. The company's sales have been about $8,900,000 per year for the last few years. However, Gaffney has the opportunity to acquire an unincorporated competitor with annual sales of $9,790,000. 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. Gaffney consider the combined gross receipts of both businesses in determining if the average annual gross receipts for the prior three-year period exceed $fill in the blank 3 statutory threshold. Therefore, Gaffney will likely be for the year of the acquisition.