In its first year of operations, Roma Company reports the following. Earned revenues of $54,000 ($46,000 cash received from customers). Incurred expenses of $30,000 ($23,400 cash paid toward them). Prepaid $9,000 cash for costs that will not be expensed until next year. . Compute Roma's first-year net income under the cash basis and the accrual basis of accounting, Cash Basis Accrual Basis Revenues Expenses Net income a. Wages of $7,000 are earned by workers but not paid as of December 31 b. Depreciation on the company's equipment for the year is $10,120. c. The Office Supplies account had a $340 debit balance at the beginning of the year. During the year, $6,488 of office supplies are purchased. A physical count of supplies at December 31 shows $699 of supplies available. d. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An analysis of insurance policies shows that $3,100 of unexpired insurance benefits remain at December 31 e. The company has earned (but not recorded) $850 of interest revenue for the year ended December 31. The interest payment will be received 10 days after the year-end on January 10 1. The company has a bank loan and has incurred (but not recorded interest expense of $3,500 for the year ended December 31. The company will pay the interest five days after the year-end on January 5 For each of the above separate cases, prepare adjusting entries required of financial statements for the year ended (date on December 31