Bonita Corp. maintains its financial records on the cash basis of accounting. Interested in securing a long-term loan from its regular bank, Bonita 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		$315,940			$149,260			$28,410
On 2020 sales		0			340,000			83,310
On 2021 sales								395,240
Cash payments for expenses:
On 2019 expenses		190,030			66,910			23,430
On 2020 expenses		40,590	a		159,290			59,110
On 2021 expenses					44,300	b		206,850

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).)

BONITA CORP. Income Statement (Cash Basis) choose the accounting period December 31,For the Year Ended December 31,For the Quarter Ended December 31,
		2019		2020
select an income statement item DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales Revenue		$enter a dollar amount		$enter a dollar amount
select an income statement item DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales Revenue		enter a dollar amount		enter a dollar amount
select a closing income statement item DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales Revenue		$enter a total net income or loss amount		$enter a total net income or loss amount

Using the data above, prepare abbreviated income statements for the years 2019 and 2020 on the accrual basis. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

BONITA CORP. Income Statement (Accrual Basis) choose the accounting period December 31,For the Year Ended December 31,For the Quarter Ended December 31,
		2019		2020
select an income statement item DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales Revenue		$enter a dollar amount		$enter a dollar amount
select an income statement item DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales Revenue		enter a dollar amount		enter a dollar amount
select a closing income statement item DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales Revenue		$enter a total net income or loss amount		$enter a total net income or loss amount