In its first year of operations, Roma Company reports the following.

Earned revenues of $$57,000($ $$49,000$ cash received from customers$).$

Incurred expenses of $$31,500($ $$24,450$ cash paid toward them$).$

Prepaid $$9,750$ 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 accountings.