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16. Molly's Auto Detailers maintains its records on the cash basis. During 2019, Molly's collected $42.000 from customers and paid $14,000 in expenses. Depreciation expense

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16. Molly's Auto Detailers maintains its records on the cash basis. During 2019, Molly's collected $42.000 from customers and paid $14,000 in expenses. Depreciation expense totaled $4,000. Over the course of the year, accounts receivable decreased $2,000, supplies increased $1,000, accounts payable decreased $5,000 and accrued liabilities increased $3,000 INSTRUCTIONS: Compute Molly's accrual basis net income: (30 points)

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