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Question 13 3 pts Use the following information to calculate the ABC company's accounting net income for the year. Credit Sales $1,600,000 Cash Sales $1,000,000 Operating Expenses on Credit $400,000 Cash Operating Expenses $1,400,000 Accounts Receivable (Beg. of Year) $100,000 Accounts Receivable (End of Year) $160,000 Accounts Payable (Beg. of Year) $100,000 Accounts Payable (End of Year) $200,000 Corporate Tax Rate 40% $600,000 C$480,000 C$250,000 $240,000