Current Attempt in Progress Wildhorse & Associates maintains its records on the cash basis. You have been engaged to convert its cash basis income statement to the accrual basis. The cash basis income statement, along with additional information, follows: Wildhorse & Associates Income Statement (Cash Basis) For the Year Ended December 31, 2020 Cash receipts from customers $463,400 Cash payments: Salaries and wages $160,000 Income taxes 59,700 Insurance 41,000 Interest 28,700 289,400 Net income $174,000 Additional information: Balances at 12/31 2020 2019 Accounts receivable $48,700 $30,600 Salaries and wages payable 10,900 21,300 Income taxes payable 23,900 18,800 Prepaid insurance 6,600 4,000 Accumulated depreciation 102,100 83,200 Interest payable 2,850 8,700 No plant assets were sold during 2020. Prepare the income statement as per accrual basis. Wildhorse & Associates Income Statement (Accrual Basis) $ $ $