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Current Attempt in Progress In its first year of operations, Kimberly Corp earned $57,200 in service revenue. Of that amount, 59,300 was on account and the remainder, 5,47,900, was collected in cash from customers. The compary incurred varioun expenses totalling $33,600, of which $28,800 was paid in cash. At year end, $4,800 was still owing on account, In addition, Kimberly prepaid \$3,300 for insurance coverage for the last half of the first year and the first haf of the second year. Kimberly expects to owe $4,300 of income tax wyenit files its corporate income tax return after year end