Haskins and Jones, Attorneys-at-Law, maintain its books on a cash basis. During 2018, the company collected $590,000 in fees from its clients and paid out $421,000 in expenses. You are able to determine the following information about accounts receivable, prepaid expenses, deferred fee revenue, and accrued liabilities: January 1, 2018 December 31, 2018 Accounts receivable $ 71,000 $ 67,000 Prepaid insurance 5,400 7,200 Prepaid rent 10,100 8,300 Deferred fee revenue 10,100 12,400 Accrued liabilities (for various expenses) 13,100 16,900 In addition, 2018 depreciation expense on furniture and fixtures is $26,500. Required: Determine accrual basis net income for 2018.