Pina Colada Corp. maintains its financial records using the cash basis of accounting. As it would like to secure a long-term loan from its bank, the company asks you, as an independent CPA, to convert its cash basis income statements information to the accrual basis. You are provided with the following summarized data for 2018, 2019, and 2020: 2018 2019 2020 Cash receipts from sales: On 2018 sales On 2019 sales On 2020 sales $287,000 $143,500 $27,000 -0 374,000 81,000 -0- -0- 422,800 Cash payments for expenses: On 2018 expenses On 2019 expenses 165,860 60,070 22,600 35,8759 121,181 52,875 -0- 41,6750 201,375 On 2020 expenses a Prepayments of 2019 expense b Prepayments of 2020 expense Using the information above, prepare abbreviated income statements for the years 2018 and 2019 using the cash basis of accounting. Pina Colada Corp. Income Statement (Cash Basis) 2018 2019 Sales Expenses Net Income / (Loss) LINK TO TEXT Using the information above, prepare abbreviated income statements for the years 2018 and 2019 using the accrual basis of accounting. Pina Colada Corp. Income Statement (Accrual Basis) 2018 2019 Sales Expenses Net Income / (Loss) LINK TO TEXT