Given the following information:

Gross Farm Income: $320,000

Gross Farm Expenses: $275,000

Depreciation: $25,000

Beginning Grain Inventories: $78,000

Ending Grain Inventories: $100,000

Beginning Market Livestock Inventories: $20,000

Ending Market Livestock Inventories: $15,000

Beginning Cash Value: $6,000

Ending Cash Value: $11,000

Beginning Prepaid Expenses: $1,000

Ending Prepaid Expenses: $12,000

What is the Cash Basis Net Farm Income?

What is the Accrual Basis Net Farm Income?