Compute cash basis net income, and accrual basis net income with the following information(numbers will be different):

1. collected $3,400 for services performed in 2007

2. Sales of $6,400 on account

3. Paid $750 cash in salaries

4. purchased airline tickets for $500 in December for a trip to take place in 2007

5. Sales of $500 for services performed in 2006 and collected in cash in 2006