Evaluate the following items, and determine the correct amount of profits (or losses) to report on the income statement using the accrual basis of accounting for the referenced period of time. Company had beginning accounts receivable of 4. The company Revenues reported cash basis revenues of 51. The ending accounts receivable amounted to 6. Company purchased 10 of supplies. Supplies on hand changed by 7 Supplies during the period. Company started the year with no prepaid rent, and ended the year with Rent 7 in prepaid rent. Rent expense on a cash basis was 14. Utilities During the year Company paid 13 for utilities. The beginning utilities payables balance was 7 and the ending balance was 3. Wages There were no wages payable at the beginning of the year. Company paid 27 in wages during the year and owed an additional 3 at year's end