15. Melody's Piano School operations for the month of May are summarized in the following three transactions: Provided S500 of instruction to students. Received $700 cash from students-of which $400 is for lessons provided in May, and $300 is for lessons provided in April. Paid April's piano rental bill of S100. Received May's bill of $150 but did not pay What is Melody's Net Income for May using the cash basis of accounting? A. $250 B. S300 C. S350 D. $600 16. What is Melody's Net Income for May using the accrual basis of accounting? A. $250 B. S300 C. S350 D. $600