ou receive $125,000 in year 1 for a job to be started and completed in year 2 . However, you purchase materials and supplies to prepare for the upcoming job. Materials and mupplies purchased in year 1 cost $60,000. In year 2 you determine that you would need to purchase an additional $30,000 in supplies Determine the profit for year 1 and 2 under both accrual and cash accounting (10 Marks)