Mostert Music Company had the following transactions in March: a. Sold music lessons to customers for $13,950; received $9,350 in cash and the rest on account. b. Paid $660 in wages for the month. c. Received a $400 bill for utilities that will be paid in April. d. Received $2,450 from customers as deposits on music lessons to be given in April. Required: Based on the information above, prepare a cash basis and an accrual basis Income statement. Complete this question by entering your answers in the tabs below. Cash Basis Accrual Basis Based on the information above, prepare a cash basis income statement. MOSTERT MUSIC COMPANY Cash Basis Income Statement Revenues Cash Sales Customer Deposits Total Revenues Expenses Salaries and Wages Paid Cash Income