Question - A company using the cash basis of accounting reports net income for 2014 of $45,460. If the company had used the accrual basis of accounting it would have reported the following year-end balances:
2014 2013
Accounts receivable $3,850 $5,100
Supplies 1,740 1,950
Salaries and wages payable 3,600 2,250
Other unpaid amounts 2,400 2,100
Instructions: Determine the company's net income under the accrual basis of accounting. Show your calculations.