Accrual Basis of Accounting versus Cash Basis of Accounting On December 31, Hermani Patterson completed his first year as a financial planner. The following data are available from his accounting records: a. Compute Hermani's net income for the year just ended using the accrual basis of accounting. $ b. Compute Hermani's net income for the year just ended using the cash basis of accounting: $ c. Which net income amount is computed in accordance with generally accepted accounting principles