Grier & Associates maintains its records on the cash basis. You have been engaged to convert its cash basis income statement to the accrual basis. The cash basis income statement, along with additional information, follows:

Grier & Associates Income Statement (Cash Basis) For the Year Ended December 31, 2017
Cash receipts from customers				$458,600
Cash payments:
Salaries and wages		$170,000
Income taxes		74,900
Insurance		37,200
Interest		22,500		304,600
Net income				$154,000

Additional information:

		Balances at 12/31
		2017		2016
Accounts receivable		$52,300		$31,100
Salaries and wages payable		9,800		20,400
Income taxes payable		23,900		19,200
Prepaid insurance		7,800		4,000
Accumulated depreciation		100,000		79,900
Interest payable		2,830		8,700

No plant assets were sold during 2017. Prepare the income statement as per accrual basis. (please include the heading and all the information needed)