Walnut, Inc. showed the following information at the end of the first year: Cash received from customers Expenses incurred, excluding depreciation Cash paid for computer to be used for 4 years (Use for straight line depreciation calculation) $600 Revenue earned 96 Proceeds from a bank loan to purchase computer 200 Cash paid for expenses What is Walnut's net income for the year based on the accrual basis of accounting? $260 $604 $554 $864 $700 160 3401