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La More Company had the following transactions during 2011: Sales of $4, 500 on account Collected $2,000 for services to be performed in 2012 Paid

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La More Company had the following transactions during 2011: Sales of $4, 500 on account Collected $2,000 for services to be performed in 2012 Paid $1, 125 cash in salaries Purchased airline tickets for $250 in December for a trip to take place in 2012 What is La More's 2011 net income using cash basis accounting? $625 $5, 125 $875 $5, 375

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