In September, Sinclair Inc. made sales of $310,000, of which $260,000 were on credit and the rest in cash. The sold merchandise had cost Sinclair $120,000 when it purchased and paid last month. In September, Sinclair acquired merchandise inventory of $78,000, payable next month to the supplier. Finally, Sinclair incurred salary and rent costs for September of $24,000 and $13,000, respectively; these were paid in cash. What was Sinclair Inc's income for September computed under the cash method and under the accrual method of accounting? Assume zero taxes