Use the following information to calculate the XYZ company's accounting net income for the year. Credit Sales $400,000 Cash Sales $250,000 Operating Expenses on Credit $100,000 Cash Operating Expenses $350,000 Accounts Receivable (Beg, of Year) $25,000 Accounts Receivable (End of Year) $40,000 Accounts Payable (Beg. of Year) $25,000 Accounts Payable (End of Year) $50,000 Corporate Tax Rate 40% $150,000 $120,000 $62,500 $60,000