Based on the following transactions, answer the following questions$1.$ Credit sales to customers totalled $$37,8002.$ Cash sales totalled $$124,2003.$ Cash collections on account from customers totalled $$32,4004.$ Cost of goods sold during the period was $$91,8005.$ Payments made to suppliers of inventory totalled $$81,0006.$ Wages of $$35,100$ were paid during the year $.$ In addition, Wages of $$2,700$ remained unpaid at year end; there were no wages unpaid at the beginning of the year $7.$ Halfway through the year, a one$-$year insurance policy Was purchased at a cost of $$1,100$Calculate the revenues, expenses, and net income that would be reported on the cash basis.$($Enter loss amounts using either anegative sign preceding the number e$.$g$.-45$ or parentheses e$.$g$.(45).)$Revenues $Expenses$Net Incorme $/($Loss$)$$