The Johnson Company had a net accrual-basis income of $100,000 during the year 2015. This consisted of $500,000 in cash sales, $300,000 in cost of goods sold, and $100,000 in other expenses. As of the end of the year, 80% of the sales revenues were collected in cash; 90% of the accounts payable were paid for in cash, and all $100,000 of the other expenses were paid. Calculate Johnson Companys cash-basis income for the year.