Comparative Income Computations Broadhurst Corporation had cash sales of $175,000 during the month of January. On credit sales in January, $120,000 was collected prior to the end of the month, and $40,000 remains to be collected in February. Also in January, $65,000 was collected on accounts receivable held at January 1. If total expenses for January were $264,000, what amount of net income will Broadhurst Corporation report for January using each of the following:

a. A cash basis of income measurement?

b. An accrual basis of income measurement?