Haskins and Jones, Attorneys-at-Law, maintains its books on a cash basis. During 2021, the law firm collected $580,000 for services rendered to its clients and paid out $419,000 in expenses. You are able to determine the following information about accounts receivable, prepaid expenses, deferred service revenue, and accrued liabilities: oints January 1, 2021 369,000 5,200 9,900 9,900 Nacounts receivable Prepaid insurance Prepaid rent Deferred service revenue Accrued liabilities (for various expenses) eBook December 31 2021 $50,000 6,800 8,500 12,000 Print References 12,900 16,500 In addition, 2021 depreciation expense on office equipment is $25,500, Required: Determine accrual basis net income for 2021 Cash basis income Add: Deduct