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Current Attempt in Progress Sandhill Industries collected $105,000 from customers in 2022. Of the amount collected, $24,700 was for services performed in 2021. In addition,
Current Attempt in Progress Sandhill Industries collected $105,000 from customers in 2022. Of the amount collected, $24,700 was for services performed in 2021. In addition, Sandhill performed services worth $40,200 in 2022, which will not be collected until 2023. Sandhill Industries also paid $71.200 for expenses in 2022. Of the amount paid, $29,500 was for expenses incurred on account in 2021. In addition, Sandhill incurred $43.100 of expenses in 2022, which will not be paid until 2023. (a) Compute 2022 cash-basis net income. Cash-basis net income $ (b) Compute 2022 accrual-basis net income. Accrual-basis net income $
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