Sheridan & Associates maintains its records on the cash basis. You have been engaged to convert its cash basis income statement to the accrual basis. The cash basis income statement, along with additional information, follows: Sheridan & Associates Income Statement (Cash Basis) For the Year Ended December 31, 2025 Cash receipts from customers $462,100 Cash payments: Salaries and wages $159,200 Income taxes 56,500 Insurance 36,500 Interest 29,300 281,500 Net income $180,600 Additional information: Balances at 12/31 2025 2024 Accounts receivable $47,500 $28,000 Salaries and wages payable 10,300 20,100 Income taxes payable 25,800 19,800 Prepaid insurance 6,200 5,000 Accumulated depreciation 88,700 80,700 Interest payable 3,990 9,100