(b) 2 of 4 use Using the data above, prepare abbreviated income statements for the years 2019 and 2020 on the accrual basis. (Enter loss using elther a negative sign preceding the number eg.-45 or parentheses eg. (45)) WHISPERING CORP. Income Statement (Accrual Basis) 2019 2020 eTextbook and Media Save for Later Attempts: 0 of 4 used Submit Answer Using the data above, prepare abbreviated income statements for the years 2019 and 2020 on the cash basis. (Enter loss using elther a negative sign preceding the number eg.-45 or parentheses eg. (45).) WHISPERING CORP. Income Statement (Cash Basis) For the Year Ended December 31, Sales Revenue Expenses Net Income/(Loss) eTextbook and Media 2019 273490 213170 60320 $ 2020 528430 276440 i 251990 Attempts: 2 of 4 used Attempt in Progress Whispering Corp. maintains its financial records on the cash basis of accounting. Interested in securing a long-term loan from its regular bank, Whispering Corp. requests you as its independent CPA to convert its cash-basis income statement data to the accrual basis. You are provided with the following summarized data covering 2019, 2020, and 2021. 2019 2020 2021 Cash receipts from sales: On 2019 sales $273,490 $144,570 $29,220 On 2020 sales -0- 383,860 87,200 On 2021 sales 369,690 Cash payments for expenses: On 2019 expenses 175,290 65,000 23,880 On 2020 expenses 37.880 161,990 58,810 On 2021 expenses 49,450 b 229,150 Prepayments of 2020 expenses. bprepayments of 2021 expenses