Instructions Prepare a schedule that converts Dr. Accardo's "excess of cash collected over cash disbursed" for the year 2020 to net income on an accrual basis for the year 2020. "E3.19 (LO 6) (Cash and Accrual Basis) Wayne Rogers Corp. maintains its financial records on the cash basis of accounting. Interested in securing a long-term loan from its regular bank, Wayne Rogers Corp. requests you as its independent CPA to convert its cash-basis income statement data to the accrual basis. You are provided with the following summarized data covering 2019, 2020, and 2021. 2019 2020 2021 Cash receipts from sales: On 2019 sales $295,000 On 2020 sales -0- $160,000 355,000 $ 30,000 90,000 On 2021 sales 408,000 Cash payments for expenses: On 2019 expenses 185,000 67,000 25,000 On 2020 expenses 40.000 160,000 55,000 On 2021 expenses 45,000b 218,000 "Prepayments of 2020 expenses. "Prepayments of 2021 expenses. Instructions a. Using the data above, prepare abbreviated income statements for the years 2019 and 2020 on the cash basis. b. Using the data above, prepare abbreviated income statements for the years 2019 and 2020 on the accrual basis.