Use the following information to calculate the company's accounting net income for the year. Credit Sales $500,000 Cash Sales $300,000 Operating Expenses on Credit $400,000 Cash Operating Expenses $200,000 Accounts Receivable (Beg. of Year) $20,000 Accounts Receivable (End of Year) $40,000 Accounts Payable (Beg. of Year) $50,000 Accounts Payable (End. of Year) Corporate Tax Rate $25,000 40% $147,000 $120,000 $39,000 $60,000