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Pat's Custom Tuxedo Shop maintains its records on the cash basis. During this past year Pat's collected $43.200 In tailoring fees, and paid $14.000 in

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Pat's Custom Tuxedo Shop maintains its records on the cash basis. During this past year Pat's collected $43.200 In tailoring fees, and paid $14.000 in expenses. Depreciation expense totaled $1,900. Accounts receivable increased $1.200, supplies increased $3,900, and accrued liabilities increased $1,950. Pat's accrual basis net income was: Multiple Choice O $24,150. $34,350. $20.250 $30,450

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