Based on the following transactions, answer the following questions.

i$.$

Credit sales to customers totalled $$32,200.$

ii$.$ Cash sales totalled $$105,800.$

ill. Cash collections on account from customers totalled $$27,600.$

iv$.$ Cost of goods sold during the period was $$78,200.$

v$.$ Payments made to suppliers of inventory totalled $$69,000.$

vi$.$ Wages of $$29,900$ were paid during the year. In addition, wages of $$2,300$ remained unpaid at year end; there were no

wages unpaid at the beginning of the year.

vii. Halfway through the year, a one$-$year insurance policy was purchased at a cost of $$900.$

$($a$)$

Calculate the revenues, expenses, and net income that would be reported on the accural basis.