Current Attempt in Progress

Blossom Industries collected $$104,000$ from customers in $2027.$ Of the amount collected, $$24,100$ was for services performed in

In addition, Blossom performed services worth $$39,400$ in $2027,$ which will not be collected until $2028.$

Blossom Industries also paid $$72,400$ for expenses in $2027.$ Of the amount paid, $$30,700$ was for expenses incurred on account in

In addition, Blossom incurred $$43,600$ of expenses in $2027,$ which will not be paid until $2028.$

$($a$)$ Compute $2027$ cash$-$basis net income.

Cash$-$basis net income

$($b$)$ Compute $2027$ accrual$-$basis net income.