A company maintains in records using cash-basis accounting. Durning the year, the company received cash from customers, $37000, and paid cash for taxes, $27000. At the beginning of the year, customers owe the company $3000. By the end of the year, customers owe $6000. At the beginning of the year, the company owes taxes of $3500. At the end of year, the company owes taxes of $5800.

Determine the cash-basis net income and the accrual-basis net income for the year.