Geraldine is an accrual-basis taxpayer who has the following transactions during the current calendar tax year: Accrued

Geraldine is an accrual-basis taxpayer who has the following transactions during the current calendar tax year:

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Accrued business income (except rent) Accrued business expenses (except rent) Rental income on a building lease for the next 6 months, received on December 1 Prepaid rent expense for 6 months, paid on December 1 9,000 Calculate Geraldine's net income from her business for the current year. Income: Other than rental Rental Expenses: Other than rental Rental Net income $220,000 170,000 21,000