Current Aprogress -15 Before month-end adjustments are made, the February 28 trial balance of Neutral Milk Hotel contains revenue of $7.000 and expenses of $4,400. Adjustments are necessary for the following items: Depreciation for February is $1,800. Revenue recognized but not yet billed is $2,700. Accrued interest expense is $700. Revenue collected in advance that is now recognized is $2,500. Portion of prepaid insurance expired during February is $400. Calculate the correct net income for Neutral Milk Hotel's Income Statement for February. Net Income after Adjustments $ e Textbook and Media Attempts: unlimited Submit Answer Save for Later Question 2 of 7 -15 E O'Brien Industries collected $190,000 from customers in 2022. Of the amount collected, $40,000 was from revenue accrued from services performed in 2021, and $20,000 was received in advance for 2023 revenue. In addition, O'Brien earned $60,000 of revenue in 2022, which will not be collected until 2023. O'Brien also earned $25,000 of revenue in 2022 which had been collected in 2021. Questie Account Viewin 2 Account O'Brien Industries paid $150,000 for expenses in 2022. Of the amount paid $50,000 was for expenses incurred on account in 2021. $22.000 was paid in advance for 2023 expenses. In addition, O'Brien incurred $78,000 of expenses in 2022, which will not be paid until 2023. O'Brien also incurred $29,000 of expenses in 2022 which had been paid in 2021. Questi Part 1 Questi Account Compute 2022 cash-basis net income. Questi Account Cash-basis net income $ Questi Account e Textbook and Media Questi Accoun Part 2 Compute 2022 accrual-basis net income. Accrual-basis net income $