Suome Script initial King Ace, a cash-basis, calendar-year taxpayer, owns and operates an office building. Ace received the following payments in Year 1: Current rents $30,000 Advance rents for Year 28,400 Refundable security deposit 1,200 What is Ace's gross income for Year 12 O $41,300 S40,100 $38,400 O $31,700