Mai Fuji started a business on January 1, 2008. Key operating statistics for 2008 were as follows:

Question:

Mai Fuji started a business on January 1, 2008. Key operating statistics for 2008 were as follows:\

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Direct production costs were $$12$ per unit. There were no fixed costs or selling/delivery expenses. The selling price per unit was $$16.
On$ January 1, 2009, Fuji decided to liquidate the business. She sold the remaining inventory at $$13$ per unit for cash. By January 15, 2009, she collected the amount due from customers for sales made during 2008.
Required:
Based on the preceding information, compute Fuji’s net income for the years 2008 and 2009
under
1. Production basis.
2. Sales (or delivery) basis.
3. Cash collection basis.