During 2020, Organic Foods Inc. made sales of $4,000 (assume all on account) and collected cash of $4,100 from customers Operating expen totalled $800, all paid in cash. At December 31,2020 , Organic Foods's customers owed the company $400. Organic Foods owed creditors $700 account All amounts are in millions. Requirements 1. For these facts, show what Organic Foods inc would report on the following 2020 financial statements - Income statement - Balance sheet 2. Suppose Organic Foods had used cash-basis accounting What would Organic Foods Inc. have reported for these facts