Newman Consulting Company Cash Basis Newman Consulting Company maintains its records on a cash basis. During 2021 the following cash flows were recorded for services provided for 2021, 2022, and 2023: cash received for services rendered to clients, $420,000; and cash paid for salaries ($240,000), utilities ($35,000), and advertising ($12,000), respectively for the entire three years at an equal amount. Accrual Basis Instructions: Prepare the net income for each year. Newman Consulting Company maintains its records on an accrual basis. The following cash amounts were recorded for services provided for 2021, 2022, and 2023: total cash received for each year was $140,000 for services rendered to clients, and cash paid for salaries, utilities, and advertising totaled $240,000, $35,000, and $12,000, respectively for the three years at an equal amount.

Newman Consulting Company Cash Basis Newman Consulting Company maintains its records on a cash basis. During 2021 the following cash flows were recorded for services provided for 2021, 2022, and 2023: cash received for services rendered to clients, $420,000; and cash paid for salaries ($240,000), utilities ($35,000), and advertising ($12,000), respectively for the entire three years at an equal amount. Accrual Basis Instructions: Prepare the net income for each year. Newman Consulting Company maintains its records on an accrual basis. The following cash amounts were recorded for services provided for 2021,2022, and 2023: total cash received for each year was $140,000 for services rendered to clients, and cash paid for salaries, utilities, and advertising totaled $240,000, $35,000, and $12,000, respectively for the three years at an equal amount