LL Corporation, a calendar year and accrual basis taxpayer, is engaged in the lawn care business, providing fertilizer treatments. It sells one-, two-, and three-year contracts. Each contract provides that the customer will receive four treatments (fall, winter, spring, and summer). An analysis of its customer contracts revealed that it received $200,000 during the fall for a one-year contract. Each of these customers will receive one treatment in 2021 and three treatments in 2022. In its financial accounting statements, the company reports the income as services are performed. What amount of income must the corporation report in 2021 and 2022?

2021:

2022:

Same as (a) above except the contracts are for two years. The customers will receive one treatment in 2021, four treatments in 2022, and three treatments in 2023.

2020:

2021: