Can someone answer t account for the balance sheet accounts in section 1 and additional accounts

At January 1 (beginning of its fiscal year). Conover, Inc., a financial services consulting firm, reported the following account balances (in thousands of dollars, except number of shares and par value per share): Create T-accounts for the balance sheet accounts and for these additional accounts. Consulting Fees Revenue, Interest Revenue, Salaries Expense, and Utilities Expense, Enter the beginning balances of the balance sheet accounts; Conover's income statement accounts had zero balances Enter the following transactions for the current year into the T-accounts, using the letter of each transaction as the reference: Received $9, 500 cash for consulting services rendered. Issued 10,000 additional shares of common stock at a market price of $120 per share. Purchased $640 of equipment, paying 25 percent in cash and owing the rest on a short-term note. Received $890 from clients for consulting services to be performed in the next year. Bought $470 of supplies on account. Incurred and paid $1, 800 in utilities for the current year. Consulted for clients in the current year for fees totaling $1, 620, due from clients in the next year. Received $2, 980 from clients paying on their accounts. Incurred $6, 210 in salaries in the current year, paying $5, 300 and owing the rest (to be paid next year). Purchased $1, 230 in short-term investments and paid $800 for insurance coverage beginning in the next fiscal year. Received $10 in interest revenue earned in the current year on short-term investments. Using the data from the T-accounts, amounts for the following at the end of the current year were Revenues $ Expenses $ = Net Income $ Assets $ = Liabilities $ + Stockholders' Equity $ What would net income be if Conover, Inc., used the cash basis of accounting? Why does this from accrual basis net income (in requirement 3)