During the month of March 2017, Weimar World, a tax-preparation service, had the following transactions.
Billed $496,000 in revenues on credit
Received $164,000 from customers’ accounts receivable
Incurred expenses of $194,000 but only paid $87,700 cash for these expenses
Prepaid $32,220 for computer services to be used next month What was the company’s accrual basis net income for the month?