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.

The monthly demand equation for an electric utility company is estimated to be p equals 60 minus left parenthesis 10 superscript negative 5 baseline right parenthesis x, where p is measured in dollars and x is measured in thousands of killowatt-hours. the utility has fixed costs of $3 comma 000 comma 000 per month and variable costs of $32 per 1000 kilowatt-hours of electricity generated, so the cost function is upper c left parenthesis x right parenthesis equals 3 times 10 superscript 6 baseline plus 32 x. (a) find the value of x and the corresponding price for 1000 kilowatt-hours that maximize the utility's profit. (b) suppose that the rising fuel costs increase the utility's variable costs from $32 to $38, so its new cost function is upper c 1 left parenthesis x right parenthesis equals 3 times 10 superscript 6 baseline plus 38 x. should the utility pass all this increase of $6 per thousand kilowatt-hours on to the consumers?