Sparky Company maintains its books on a cash basis. However, the company recently borrowed $100,000 from a local bank and the bank requires Sparky to provide annual financial statements prepared on an accrual basis. During 2017, the following cash flows were recorded: Cash received from customers $320,000 Cash paid for operating expenses $243,000 You are able to determine the following information about Sparky's current assets and current liabilities: January 1, 2017 $ 32,000 December 31, 2017 $ 27,000 15000 2.000 Accounts Receivable Prepaid insurance Supplies Wares Payable 1.000 2,400 1,500 3,400 Ins o n you learn that the bank loan was cated September 30, 2017 with principal and interest 64 Pa duen one year Depreciation on the company's equipment is $10,000 for the year Determine Oberating home on the accrual basis for 2017 lignere income taxes