Grier & Associates maintains its records on the cash basis. You have been engaged to convert its cash basis income statement to the accrual basis. The cash basis income statement, along with additional information, follows: Grier & Associates Income Statement (Cash Basis) For the Year Ended December 31, 2017 Cash receipts from customers $435,900 Cash payments: Salaries and wages $173,600 Income taxes 68,600 Insurance 38,600 Interest 26,000 306,800 Net income $129,100 Additional information: Balances at 12/31 2017 2016 Accounts receivable $49,500 $30,400 Salaries and wages payable 8,700 18,900 Income taxes payable 24,000 19,800 Prepaid insurance 8,800 4,600 Accumulated depreciation 91,900 72,200 Interest payable 3,360 9,200 No plant assets were sold during 2017.

Prepare the income statement as per accrual basis. Grier & Associates Income Statement (Accrual Basis) December 31, 2017For the Month Ended December 31, 2017For the Year Ended December 31, 2017 DividendsExpensesNet Income / (Loss)RevenuesTotal ExpensesTotal Revenues $ DividendsExpensesNet Income / (Loss)RevenuesTotal ExpensesTotal Revenues $ Dividends Expenses Net Income / (Loss) Revenues Total Expenses Total Revenues Dividends Expenses Net Income / (Loss) Revenues Total Expenses Total Revenues $