Listed below are several transactions that took place during the second RPG Consulting and third years of operations for Year 2Year 3 Amounts billed to customers for services rendered Cash collected from credit customers Cash disbursements: $300,000 $400,000 210,000 350,000 0 135,000 155,000 25,00035,000 12,500 30,000 75,000 Payment of rent Salaries paid to employees for services rendered during the year Travel and entertainment ing In addition, you learn that the company incurred advertising costs of $20,000 in year 2, owed the advertising agency $4.500 at the end of year 1, and there were no liabilities at the end of year 3. Also, there were no anticipated bad debts on receivables, and the rent payment was for a two-year period, year 2 and year 3 Required 1. Calculate accrual net income for both years. Year 2 Year 3 Revenues S 300,000 S400,000 Expenses Rent Salaries Travel and entertainment Advertising Net income 2. Derermine the amount due the advertising agenoy that would be shoun as a liability on RPS's batae shee: 31 the end of yea 2 Advertising liability at end of Year2