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Due October 2, 2019 (turn in hard copy or on Blackboard) Chapter 9 Assignment 1: 1. Mow-Money is a landscaping company in Virginia that files as a C corporation using the accrual method for tax purposes. The company has a calendar year-end. During 2019, the following activities occurred. The company had three lawn service contracts for the year. The first job was carried out over the first six months of the year, and the second job was carried out over the last six months of the year. Each job paid $25,000 before the date each job was completed. The third job was a larger, 12 month job that began on Nov. 1, 2019. The company received the full payment of $60,000 in advance for the job. The degree of work required for the job would be the same across all 12 months. Mow-Money did not include any of the $60,000 in its income for financial reporting purposes for 2019. In addition, for this third job, the company signed a $6,000 contract with a waste removal company. The waste removal company was required to stop by on a weekly basis throughout the contract to pick up debris and trash from the site. On June 30, 2019, the company entered into an 18 month lease to rent a new office space at $1,000 per month, prepaying the entire amount of rent in advance. What was Mow-Money's net profit (loss) reported for the business for the 2019 tax year if the company prefers to defer taxable income whenever possible? ($6,000 + 48*8