Haskins and Jones, Attorneys-at-Law, maintains its books on a cash basis. During 2021, the law firm collected $635,000 for services rendered to its clients and paid out $430,000 in expenses. You are able to determine the following information about accounts receivable, prepaid expenses, deferred service revenue, and accrued liabilities: January 1, 2021December 31, 2021 Accounts receivable$80,000 $76,000 Prepaid insurance 6,300 8,100 Prepaid rent 11,000 9,100 Deferred service revenue 11,000 13,200 Accrued liabilities (for various expenses) 14,000 18,700 In addition, 2021 depreciation expense on office equipment is $31,000. Required: Determine accrual basis net income for 2021.