Ivanhoe Industries collected $104,000 from customers in 2020. Of the amount collected, $24,700 was for services performed in 2019. In addition, Ivanhoe performed services worth $40,100 in 2020, which will not be collected until 2021. Ivanhoe Industries also paid $72,600 for expenses in 2020. Of the amount paid, $29,300 was for expenses incurred on account in 2019. In addition, Ivanhoe incurred $42,800 of expenses in 2020, which will not be paid until 2021. (a) Compute 2020 cash-basis net income. Cash-basis net income $ (b) Compute 2020 accrual-basis net income. Accrual-basis net income $