Exercise 3-19 Culver Corp. maintains its financial records on the cash basis of accounting. Interested in securing a long-term loan from its regular bank, Culver Corp. requests you as its independent CPA to convert its cash-basis income statement data to the accrual basis. You are provided with the following summarized data covering 2016, 2017, and 2018 2016 2017 2018 Cash receipts from sales On 2016 sales On 2017 sales On 2018 sales 315,940 $149,260 340,000 $28,410 83,310 395,240 Cash payments for expenses On 2016 expenses On 2017 expenses On 2018 expenses 190,030 40,590 66,910 159,290 23,430 9,110 44,300 b 206,850 Prepayments of 2017 expenses. Prepayments of 2018 expenses