Hi, I need soem help answering requirement 2 & 3 of this problem. Thank you!

Calorie Catering completed the following selected transactions during May 2004 Click the icon to view the ansactions Read the recents S Requirement 1. Show whether each transaction would be handied as a revenue or an expense ung both the cash basis and accrual basis accounting systems by completing the table provided. (Expenses should be shown in parentheses) Also indicate the dollar amount of the revenue or expense The May 1 ansaction has been completed as an example for any transactions that do not affects of expenses) Amount of Revenue Expense) for May Cash Basis Amount Acorus Bosis Amount of Revenue Expense of Revenue (Expanse) May 11.300 5 May 5 5 250) 5 (250) 5 1700 5 1.700 May 14 2.700 S 5 3 3,400 S 5 6001 May 31 Salary S 0 $ 11.4301 May der 5 145) 0 Requirement 2. After completing the late, calculate the amount of net income orneos for Calorie Catering under the scores and cash basis accounting systems for May (Use pare these or a minus in to indicate a Cash Basis Amount Accrual Basis Amount Requirements More Info 1. Show whether each transaction would be handled as a revenue or an expense using both the cash basis and accrual basis accounting systems by completing the table provided. (Expenses should be shown in parentheses.) Also, indicate the dollar amount of the revenue or expense. The May 1 transaction has been completed as an example Amount of Revenue (Expense) for May Cash Basis Amount of Accrual Basis Amount of Date Revenue (Expense) Revenue (Expense) May 1 S (1.600) 0 2. After completing the table, calculate the amount of net income or not loss for Calorie Catering under the accrual basis and cash basis accounting systems for May 3. Considering your results from Requirement, which method gives the best picture of the true earnings of Calorie Catering? Why? May 1 May 5 May 9 May 14 May 23 May 31 May 31 May 31 Prepaid rent for three months, $1,800. Received and paid electricity bill, $250. Received cash for meals served to customers, $1,700 Paid cash for kitchen equipment, $2,700 Served a banquet on account, $3,400, Made the adjusting entry for rent (from May 1). Accrued salary expense, 51,400 Recorded depreciation for May on kitchen equipment, $45. Print Done