During 2020 , Mountain Sales Inc. earned revenues of $570,000 on account. Mountain Sales collected $480,000 from customers during the year. Expenses totalled $490,000, and the related cash payments were $430,000. Compute Mountain Sales Inc.'s net income using both the cash basis and accrual basis of accounting. If you were thinking of investing in Mountain Sales, which basis would you want the company to use to determine its net income and why? Show what Mountain Sales would report on its 2020 income statement under the Cash basis and the Accrual basis. Compute net income under both bases of accounting. Begin by entering the amounts to calculate the net income. Then calculate net income under the cash basis and accrual basis of accounting