At the beginning of 2020, Dr. John opened his medical practice as a personal service corporation. The entity used a December 31 year-end calendar year and the accural method of accounting. During tge year, the corporation billed patients and insurance companies $480,000 for medical services. At the end of the year, $50,000 of this had not been collected. The entity earned $1,000 interest on a money market account held in the local bank and another $1,000 interest on an investment in bonds.

Dr. John's salary from his corporation is $12,000 per month. However, he did not cash his November and december payroll checks until 2021. to help provide funds and invest in the new business, Dr johns parents loaned him $150,000 and did not charge interest. he also owns stock that increased in value from $7,000 at the beginning to over 30,000 at tge end. in 2020 johns wife also died and left him $200,000 in life insurance on decmeber 2020. dr john needs help calculating his gross income and the gross income of the corporation. would the calculations br different of the corporation used cash method of accounting?