Blossom Industries collected $104,000 from customers in 2022 . Of the amount collected, $24,000 was for services performed in 2021. In addition, Blossom performed services worth $38,000 in 2022 , which will not be collected until 2023 . Blossom Industries also paid $70,000 for expenses in 2022 . Of the amount paid, $29,000 was for expenses incurred on account in 2021. In addition, Blossom incurred $40,000 of expenses in 2022 , which will not be paid until 2023 . (a) Compute 2022 cash-basis net income. Cash-basis net income $ (b) Compute 2022 accrual-basis net income. Accrual-basis net income $ Blossom Industries collected $104,000 from customers in 2022 . Of the amount collected, $24,000 was for services performed in 2021. In addition, Blossom performed services worth $38,000 in 2022 , which will not be collected until 2023 . Blossom Industries also paid $70,000 for expenses in 2022 . Of the amount paid, $29,000 was for expenses incurred on account in 2021. In addition, Blossom incurred $40,000 of expenses in 2022 , which will not be paid until 2023 . (a) Compute 2022 cash-basis net income. Cash-basis net income $ (b) Compute 2022 accrual-basis net income. Accrual-basis net income $