Listed below are several transactions that took place during the second and third years of operations for RPG Company Year 2 Year 3 $330,000 $430,000 240,000 380,000 Amounts billed to customers for services rendered Cash collected from credit customers Cash disbursements: Payment of rent Salaries paid to employees for services rendered during the year Travel and entertainment Advertising 78,000 138,000 158,000 38,000 28,000 14,000 33,000 In addition, you learn that the company incurred advertising costs of $23,000 in year 2, owed the advertising agency $4,800 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. 2. Determine the amount due the advertising agency that would be shown as a liability on RPG's balance sheet at the end of year 2. Complete this question by entering your answers in the tabs below Required 1Required 2 Calculate accrual net income for both vears Year 2 Year 3 Revenues Expenses Rent Salaries Travel and entertainment Advertising Net income Required 1Required 2 Determine the amount due the advertising agency that would be shown as a liability on RPG's balance sheet at the end of year 2 vertising liability at end of Year2