Exercise 3-03 EXT Your answer is partially correct. Try again. Blossom Industries collected $104,000 from customers in 2020. Of the amount collected, $24,100 was for services performed in 2019. In addition, Blossom performed services worth $39,400 in 2020, which will not be collected until 2021. Blossom Industries also paid $72,400 for expenses in 2020. Of the amount paid, $20,700 was for experises incurred on account in 2019. In addition, Blossom incurred $43,600 of expenses in 2020, which will not be paid until 2021. (a) Compute 2020 cash-basis net income. Cash-basis net income 43,600 (b) Compute 2020 accrual basis net income. Accrual basis net income 34,000