Homework#6: Silo Company had the following transactions during Dec. 2018. Earned services revenue on account $4,500, Collected $2,000 in cash for services performed. Paid $1,325 cash in salaries, Purchased airline tickets for $250 cash for a trip in Aug. 2019. Instructions: What is Net Income using Accrual and Cash basis of accounting? Homework #6: Silo Company ACCRUAL BASIS Accrual Basis Income Statements Revenues Operating Expenses Total Operating Expenses Net Income CASH BASIS Revenues Cash Basis Operating Expenses Total Operating Expenses Net Income