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Exercise 3-19 (Part Level Submission) Blue Corp. maintains its financial records on the cash basis of accounting. Interested in securing a long-term loan from its regular bank, Blue 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 2019, 2020, and 2021. 2019 2020 2021 $294,570 -0- $154,640 327,000 $31,880 93,550 399,140 Cash receipts from sales: On 2019 sales On 2020 sales On 2021 sales Cash payments for expenses: On 2019 expenses On 2020 expenses On 2021 expenses 168,090 43,130 a 61,480 166,850 48,730 b 24,210 57,370 210,040 Prepayments of 2020 expenses. Prepayments of 2021 expenses. Your answer is partially correct. Try again. Using the data above, prepare abbreviated income statements for the years 2019 and 2020 on the cash basis. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) BLUE CORP. Income Statement (Cash Basis) For the Year Ended December 31, 2019 2020 T Sales Revenue 294,570 TExpenses TNet Income / (Loss) Click if you would like to Show Work for this question: Open Show Work