Mostert Music Company had the following transactions in March: a. Sold music lessons to customers for $10,600; received $6,200 in cash and the rest on account. b. Paid $640 in wages for the month. c. Received a $320 bill for utilities that will be paid in April. d. Received $2,150 from customers as deposits on music lessons to be given in April. 1. Based on the information above, prepare a cash basis and an accrual basis income statement.