Haskins and Jones, Attorneys-at-Law, maintains its books on a cash basis. During 2021, the law firm collected $605,000 for services rendered to its clients and paid out $424,000 in expenses. You are able to determine the following information about accounts receivable, prepaid expenses, deferred service revenue, and accrued liabilities: Accounts receivable Prepaid insurance Prepaid rent Deferred service revenue Accrued liabilities (for various expenses) January 1, 2021 $74,000 5,700 10,400 10,400 13,400 In addition, 2021 depreciation expense on office equipment is $28,000. Required: Determine accrual basis net income for 2021. December 31, 2021 $67,000 6,900 9,700 12,000 17,500