Winter Company earned revenues of $160,000 in cash and $210,000 on account during 2014.Of the $210,000 on account,$80,000 was collected in cash in 2014 and the rest in 2015.The company incurred expenses of $125,000 in 2014 and made payments of $90,000 towards the expenses in 2014.What is net income in 2014 under accrual-basis accounting?

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The Answer of Winter Company earned revenues of $160,000 in cash and $210,000 on account during 2014.Of the $210,000 on account,$80,000 was collected in cash in 2014 and the rest in 2015.The company incurred expenses of $125,000 in 2014 and made payments of $90,000 towards the expenses in 2014.What is net income in 2014 under accrual-basis accounting?

Winter Company Earned Revenues of $160,000 in Cash and $210,000