Sarah owns a jewelry store and prepares her financial statements using the accrual basis of accounting. However, she completes her Schedule C on her individual income tax return using the cash basis of accounting. Given the information below determine cash net income .

Accrual based net income: $40,000

Beginning accounts receivable: $60,000

Ending accounts receivable: $37,000

Beginning accounts payable: $24,000

Ending accounts payable: $30,000

		$40,000
		$69,000
		$11,000
		$63,000