E3.3 (LO 1) Primo Industries collected $105.000 from customers in 2020. Of the amount collected $25,000 was for services performed in 2019. In addition, Primo performed services worth $40,000 in 2020, which will not be collected until 2021. Primo Industries also paid $72.000 for expenses in 2020. Of the amount paid, $30,000 was for expenses incurred on account in 2019. In addition, Primo incurred $42,000 of expenses in 2020, which will not be paid until 2021. Instructions a. Compute 2020 cash-basis net income. b. Compute 2020 accrual-basis net income. EAN