Concord Corp. sells $6290 of goods on account in the current year and collects $3290 of this. It incurs $4200 in expenses on account during the current year and pays $2600 of them. Concord would report what amount of net income under the cash and accrual bases of accounting, respectively? $3290 on the cash basis and $4200 on the accrual basis. O $2090 on the cash basis and $3000 on the accrual basis. O $690 on the cash basis and $2090 on the accrual basis. O $3000 on the cash basis and $2090 on the accrual basis