Income statements for three years are given 

Year 1 Year 2 $366.000 $20.000 $100,000 $0 $0 50,000 50,000 50,000 5,000 5,000 5,000 36,000 36,000 36,000 $175,000 $(1,000) $(1,000) * Equipment was purchased at the beginning of Year 1 for $100,000 and is expected to last for three years and then to be worth $1,000. Required: 1. Convert the income statements for each of the three years to the accrual basis. Indicate a net loss with a minus sign. Year 3 $$90.000 Sales Equipment* Salaries and wages Advertising Rent and utilities Net income (loss)