PQR Restaurants operates multiple outlets. Financial transactions for 2023 are as follows:

Transactions (in $ millions)	Amount
Cash Sales	190.0
Credit Sales	65.0
Cash Payments	135.0
Accounts Receivable	45.0
Food Supplies Purchases	95.0
Estimated Food Waste	10.0

Requirements:

• Prepare PQR Restaurants' income statement for 2023 using the modified cash basis.
• Calculate net income considering the conservatism principle.
• Discuss the impact of estimated food waste on financial statements.
• Analyze the treatment of accounts receivable and food supplies purchases under the conservatism principle.