Oriole Industries collected $121,800 from customers in 2022. Of the amount collected, $29,000 was for services performed in 2021. In addition, Oriole performed services worth $46,400 in 2022, which will not be collected until 2023. Oriole Industries also paid $83,520 for expenses in 2022. Of the amount paid, $34,800 was for expenses incurred on account in 2021. In addition, Oriole incurred $48,720 of expenses in 2022, which will not be paid until 2023. (a) Compute 2022 cash-basis net income. Cash-basis net income $ (b) Compute 2022 accrual-basis net income.

Orioie industries collected $121,800 from customers in 2022 . Of the amount collected, $29,000 was for services pertopned in 2021. In addition, Oriole performed services worth $46,400 in 2022 , which will not be collected until 2023 . Oriole Industries also paid $83,520 for expenses in 2022 . Of the amount paid, $34,800 was for experses incurred on account in 2021 It addition, Oriole incurred $48.720 of expenses in 2022 , which will not be paid until 2023. Compute 2022 cash basis net income. Cashbasis net income (b)