On January 1, 2017, Norma Smith and Grant Wood formed a computer sales and service company in Soapsville, Arkansas, by investing $91, 240 cash. The new company, Novak Sales and Service, has the following transactions during January. 1. Pays $9,000 in advance for 3 months' rent of office, showroom, and repair space. 2. Purchases 41 personal computers at a cost of $1, 660 each, 7 graphics computers at a cost of $2, 660 each, and 26 printers at a cost of $460 each, paying cash upon delivery. 3. Sales, repair, and office employees earn $13, 840 in salaries and wages during January, of which $4, 240 was still payable at the end of January. 4. Sells 31 personal computers at $2, 710 each, 5 graphics computers for $3, 760 each, and 16 printers for $660 each: $76, 240 is received in cash in January, and $37, 130 is sold on a deferred payment basis. 5. Other operating expenses of $9, 640 are incurred and paid for during January: $3, 240 of incurred expenses are payable at January 31. Using the transaction data above, prepare (1) a cash-basis income statement and (2) an accrual-basis income statement for the month of January. (Enter loss using either a negative sign preceding the number, e.g.-45 or parentheses e.g. (45).)