Mave Corp. sells $5,000 of goods on account in the current year and collects $3,000 of this. It incurs $3,500 in expenses on account during the current year and pays $2,000 of them. Mave would report what amount of profit under the cash and accrual bases of accounting, respectively? $1,500 on the cash basis and $2,000 on the accrual basis $1,000 on the cash basis and $1,500 on the accrual basis $3,500 on the cash basis and $1,000 on the accrual basis $3,000 on the cash basis and $3,500 on the accrual basis