Year 3 Year z $370,000 $470,000 280,000 Amounts billed to customers for services rendered Cash collected from credit customers Cash disbursenents: 420,000 82,000 142,000 0 Payment of rent Salaries paid to employees for services rendered during the year Utilities 162,000 42,000 37,000 32,000 16,000 Advertising In addition, you learn that the company incurred advertising costs of $27,000 in year 2, owed the advertising agency $5,200 at the end of year 1, and there were no liabilities at the end of year 3. Also, there were no anticipated bad debts on receivables, and the rent payment was for a two-year period, year 2 and year 3. Required: 1. Calculate accrual net income for both years. 2. Determine the amount due the advertising agency that would be shown as a liability on RPG's balance sheet at the end of year 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate accrual net income for both years. Year 3 Year 2 Revenues Expenses: Rent Salaries Utities Advertising Net income Required 2