Cash and Accrual Basis During July, Tamblyn Corporation paid $25,000 for July’s heat, light, and power and $200,000 for materials and supplies. All but $30,000 of the materials and supplies were used during the month. Total payments for salaries and wages for the month were $70,000.

Additional salaries of $15,000 for the last four working days of July have not yet been paid at the end of July. If all sales are made on a cash basis and sales revenue for Tamblyn was $350,000, what amount of net income will Tamblyn report for July using each of the following:

a. A cash basis of income measurement?

b. An accrual basis of income measurement?