Use the following information to calculate the company's accounting net income for the year.

Sales on credit	$400,000
Sales (cash)	$700,000
Administrative Expenses	$100,000
Selling and Marketing Expenses	$800,000
Interest Expenses	$100,000
Accounts Receivable (Beg. of Year)	$50,000
Accounts Receivable (End of Year)	$80,000
Accounts Payable (Beg. of Year)	$50,000
Accounts Payable (End of Year)	$100,000
Corporate Tax Rate	15%