During the first year of operations, a company sold $109,000 of goods to customers and received $94,500 in cash from customers. The remainder is owed to the company at the end of the year. The company incurred $70,900 in expenses for the year and paid $65,900 in cash for these expenses. The remainder is owed by the company at the end of the year. Based on this information, what is the amount of net income for the year

Heather has been an active participant in a defined benefit plan for 19 years. during her last 6 years of employment, heather earned $42,000, $48,000, $56,000, $80,000, $89,000, and $108,000, respectively (representing her highest-income years). calculate heather’s maximum allowable benefits from her qualified plan (assume that there are fewer than 100 participants). assume that heather’s average compensation for her three highest years is $199,700. calculate her maximum allowable benefits.