Can you please provide computations and responses to required questions.

Abme Kroywen, a New York based accountant, decided to sell her practice and retire. She has had discussions with an accountant from Israel who wants to relocate. The discussions are at the Required: complex stage of agreeing on a price. Among the important factors have been the financial a. On the basis of the above information prepare an Accrual based Income Statement for 2020. statements of Kroywen. Under the direction of Kroywen, her bookkeeper, Rima Viz, prepared the following Statement of Profits on a Cash basis from the incomplete records maintained (Viz never Show your computations. heard the term Balance Sheet before): b. Viz defended his accounting policy by noting that Kroywen had founded the business and Abme Kroywen - Statement of Profits - 2020 ($ in thousands) never had an intention of selling it. "Since over the life of the business accounting does not Professional fees collected $ 315 matter - Kroywen should use the simplest possible system - cash-based accounting." Do Expenses paid: Rent of office space $ 28 you agree? Briefly comment (no more than 5 lines). Utilities 5 Telephone 10 Office salaries 62 Office supplies 6 Miscellaneous 11 Total Expenses Paid: Profit for the year $ 193 Hidden in the Herzliya, additional data was discovered: a. Of the professional fees collected in 2020, $69 was for services performed prior to 2020. b. At the end of 2020, professional fees of $45 for services performed during the year were yet uncollected. c. Office equipment owned and used by Kroywen cost $50 and had an estimated useful life of 10 years (use straight-line). d. An inventory of office supplies on December 31, 2020, reflected $3 worth of items purchased during the year that were still on hand. Also, the records for 2019 indicate that the supplies on hand at the end of the year were about $2. e. At the end of 2020, a secretary whose annual salary is $36 had not been paid for December. f. The phone bill for December 2020, amounting to $1, was not paid until January 2021 (the phone bill for December 2019, $3, was paid on December 30, 2019). g. The office rent paid of $28 was for 14 months (it includes rent for December 2019 and for January 2021)