Sarasota Construction Company changed from the completed-contract to the percentage-of-completion method of accounting for long-term construction contracts during 2021. For tax purposes, the company employs the completed-contract method and will continue this approach in the future. (Hint: Adjust all tax consequences through the Deferred Tax Liability account.) The appropriate information related to this change is as follows. Pretax Income from: Percentage-of-Completion Completed-Contract Difference 2020 2021 $753,000 676,000 $574,000 $179,000 479,000 197,000 (a) Assuming that the tax rate is 40%, what is the amount of net income that would be reported in 2021? Net income