CraneIndustries collected $104,000from customers in 2022. Of the amount collected, $24,300was for services performed in 2021. In addition,Craneperformed services worth $41,000 in 2022, which will not be collected until 2023. CraneIndustries also paid $73,500for expenses in 2022. Of the amount paid, $30,300was for expenses incurred on account in 2021. In addition,Craneincurred $40,700of expenses in 2022, which will not be paid until 2023. (a)Compute 2022 cash-basis net income.

Cash-basis net income

$enter the cash-basis net income amount in dollars

(b)Compute 2022 accrual-basis net income.

Accrual-basis net income

$enter the accrual-basis net income amount in dollars