Mostert Music Company had the following transactions in March:

a.	Sold music lessons to customers for $14,350; received $8,950 in cash and the rest on account.
b.	Paid $820 in wages for the month.
c.	Received a $420 bill for utilities that will be paid in April.
d.	Received $2,200 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.