Current Attempt in Progress

Cullumber Industries collected $$104,000$ from customers in $2027.$ Of the amount collected, $$24,300$ was for services performed in $2021.$ In addition, Cullumber performed services worth $$40,300$ in $2027,$ which will not be collected until $2023.$

Cullumber Industries also paid $$7,800$ for expenses in $2027.$ Of the amount paid, $$30,500$ was for expenses incurred on account in $2021.$ In addition, Cullumber incurred $$41,800$ of expenses in $2027,$ which will not be paid until $2023.$

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

Cash$-$basis net income

$

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

Accrual$-$basis net income

$