Pearl Corp. maintains its financial records on the cash basis of accounting. Interested in securing a long-term loan from its regular bank, Pearl Corp. requests you as its independent CPA to convert its cash-basis income statement data to the accrual basis. You are provided with the following summarized data covering 2016, 2017, and 2018.

		2016			2017			2018
Cash receipts from sales:
On 2016 sales		$279,330			$172,620			$27,710
On 2017 sales		0			384,420			84,570
On 2018 sales								417,080
Cash payments for expenses:
On 2016 expenses		190,150			71,300			22,550
On 2017 expenses		36,140	a		162,710			59,250
On 2018 expenses					49,340	b		212,270

^aPrepayments of 2017 expenses. ^bPrepayments of 2018 expenses.

Using the data above, prepare abbreviated income statements for the years 2016 and 2017 on the cash basis. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

PEARL CORP. Income Statement (Cash Basis) December 31,For the Year Ended December 31,For the Quarter Ended December 31,
		2016		2017
Dividends Expenses Net Income / (Loss) Retained Earnings, January 1 Retained Earnings, December 31 Sales Revenue		$		$
Dividends Expenses Net Income / (Loss) Retained Earnings, January 1 Retained Earnings, December 31 Sales Revenue
Dividends Expenses Net Income / (Loss) Retained Earnings, January 1 Retained Earnings, December 31 Sales Revenue		$		$

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Using the data above, prepare abbreviated income statements for the years 2016 and 2017 on the accrual basis. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

PEARL CORP. Income Statement (Accrual Basis) December 31,For the Year Ended December 31,For the Quarter Ended December 31,
		2016		2017
Dividends Expenses Net Income / (Loss) Retained Earnings, January 1 Retained Earnings, December 31 Sales Revenue		$		$
Dividends Expenses Net Income / (Loss) Retained Earnings, January 1 Retained Earnings, December 31 Sales Revenue
Dividends Expenses Net Income / (Loss) Retained Earnings, January 1 Retained Earnings, December 31 Sales Revenue		$		$