> - /20 Question 51 of 52 -- Pina Colada Company prepared the following income statement using the cash basis of accounting: PINA COLADA COMPANY Income Statement, Cash Basis For the Year Ended December 31, 2021 Service revenue (does not include $35,200 of services rendered on account because the collection will not be until 2022) Expenses (does not include $17.600 of expenses on account because payment will not be made until 2022) Net income $326,800 189.200 $137,600 Additional data: 1. Depreciation on a company automobile for the year amounted to $6,440. This amount is not include 2. On January 1, 2021, paid for a two-year insurance policy on the automobile amounting to $1,568. TH Recast the above income statement on the accrual basis in conformity with generally accepted accounting principles PINA COLADA COMPANY Income Statement Service revenue Expenses Net income $ Save for Later Attempts of 1 used lu Submit