4. Closing: Howard Company provides accounting services to a company in 2019. While providing the service, Howard Company incurred expenses of $35,000 while performing the service but does not receive compensation of $50,000 until 2020. Determine Howard Company's net income in 2019 and 2020 using both cash-basis accounting and accrual- based accounting. (Clusters - Groups Compare) Cash-Basis 2019 2020 Total Revenues (Receipts) Cash Payments Net Income (Loss) Accrual-Basis 2020 2019 Total Revenues (Receipts) Cash Payments Net Income (Loss)