In its first year of operations, 2023 , Culver Corp. invoiced $190,000 in service revenue. Of that amount, $23,000 was still owing from customers at the end of year. In 2023 , Culver incurred various operating expenses totalling $82,000, of which $86,000 was paid in cash. Salaries and wages paid to employees totalled $72,000 and $3,400 was still owing at the end of the year. In addition, Culver prepaid $5,300 for insurance coverage that covered the last half of 2023 and the first half of 2024 . Culver estimates it will owe $8,300 in income tax when it files its corporate income tax return after its 2023 year end. (a) Calculate the net income for 2023 under the accrual basis of accounting