Blossom Corp.maintains its financial records on the cash basis of accounting. Interested in securing a long-term loan from its regular bank, Blossom 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 $268,730 $169,340 $28,890 On 2020 sales -O- 353,540 89,200 On 2021 sales 448,490 Cash payments for expenses: On 2019 expenses 190,170 40,140 a On 2020 expenses 7 3,370 26,020 144,470 55,230 47,140 6 223,220 On 2021 expenses a Prepayments of 2020 expenses. bPrepayments of 2021 expenses. Using the data above, prepare abbreviated income statements for the years 2019 and 2020 on the cash basis. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) BLOSSOM CORP. Income Statement (Cash Basis) For the Year Ended December 31, A 2019 2020 Sales Revenue Expenses Net Income / (Loss) Tortback and Media - Your answer is partially correct. Using the data above, prepare abbreviated income statements for the years 2019 and 2020 on the accrual basis. (Enter loss using either negative sign preceding the number e.g.-45 or parentheses e.g. (45).) BLOSSOM CORP. Income Statement (Accrual Basis) For the Year Ended December 31, 2019 2020 Sales Revenue 466960 Expenses Net Income /(Loss) T. L. 1. MA