Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from customers, $330,000; Cash paid for rent, $38,000; Cash paid to employees for services rendered during the year, $118,000; Cash paid for utilities, $48,000. In addition, you determine that customers owed the company $58,000 at the end of the year and no bad debts were anticipated. Also, the company owed the gas and electric company $1,800 at year-end, and the rent payment was for a two-year period. Calculate accrual net income for the year.

As a result of a thorough physical inventory, waterway company determined that it had inventory worth $320200 at december 31, 2020. this count did not take into consideration the following facts: walker consignment currently has goods worth $47400 on its sales floor that belong to waterway but are being sold on consignment by walker. the selling price of these goods is $75900. waterway purchased $21900 of goods that were shipped on december 27, fob destination, that will be received by waterway on january 3. determine the correct amount of inventory that waterway should report.