Mark is a physical therapist and a client. On February 1, 2020, Mark starts his own business, Marks PT Services, LLC. He uses Quickbooks for his accounting. He comes to meet with you on March 1, 2021 and brings his financial statements for Marks PT Services, LLC. His financial statements show the following:

Cash	40,000.00
Accounts Receivable	7,500.00
Equipment	32,000.00
Accumulated Depreciation	(8,000.00)
Total Assets	71,500.00
Accounts Payable	3,300.00
Equity - Mark	10,000.00
Net Income	58,200.00
Total Liabilities & Equity	71,500.00

What is Marks taxable income from his business under the accrual method? Under the cash method?