Help Sa Lay Perfect Pillow Company sells specialty pillows and accessories to customers. Its fiscal year ends on December 31. The following transactions occurred in the current year: a. Purchased $250,000 of new pillow inventory, paid $90,000 in cash and owed the rest on account b. Pald employees $180,300 in wages for work during the year, an additional $3,700 for the current year's wages will be paid in January of the next year. c. Sold pillows to customers for $750,000; received $500,000 in cash and customers owed the rest on account. The cost of the pillow inventory to Lay Perfect Pillow was $485.000, d. Paid $17.200 cash for utilities for the year. e. Received $70,000 from customers as deposits on orders of new pillows to be sold to the customers in January of the next year. f. Received a $1,930 utilities bill for December of the current year that will be paid in January of the next year Required: 1. Complete the following statements: ences Accrual Basis Income Statement Revenues Sales to customers Cash Basis Income Statement Revenues Cash sales Customer deposits Expenses Inventory purchases Wages paid Utilities paid Net Income Expenses Cost of sales Wages expense Utilities expense Net income Prey 1 of 9 !!! Next >