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Elanke, an owner of a restaurant, has the following financial information for the year ending December 31, 2016.
Revenue earned
$410,000
Cash received from customers
300,000
Expenses incurred in the purchase of ingredients
250,000
Depreciation incurred during the year
700
Cash paid for miscellaneous expenses incurred in the year 2015
120,000?
Based on the accrual basis of accounting, Elanke's net income for the year is __________.
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