Current Attempt in Progress Concord Company had the following transactions during 2022: Sales of $4500 on account Collected $2300 for services to be performed in 2023 Paid $1650 cash in salaries Purchased airline tickets for $230 in December for a trip to take place in 2023 What is Concord's 2022 net income using cash-basis accounting? $4920. $420. $5150. $650. O The income statement for the month of June, 2021 of Bramble Enterprises contains the following information: Revenues $6880 Expenses: $3030 Salaries and Wages Expense Rent Expense 1470 Advertising Expense 730 Supplies Expense 320 Insurance Expense 90 Total expenses 5640 Net income $1240 After the revenue and expense accounts have been closed, the balance in Income Summary will be a credit balance of $6880. a credit balance of $1240. $0. a debit balance of $1240