Prepare cash basis Income statements for all of the following

The income statement and other selected data for Pat Gibson Company is shown below. Pat Gibson Company Accrual Basis Income Statement For the Year Ended December 3 1, 2010 Net sales 5900, ooo Expenses 550,000 133, oco $683, oco 217,000 S151. 600 Cost of goods sold Selling and administrative expense Total expenses Income before income taxes Income taxes Net income Other data: Cost Of goods sold includes depreciation expense Of 65 400 b. d. e. g. Selling and administrative expense includes goodwill amortization of SIO,OOO. Decrease in deferred income taxes (a liability account), $5,000. Increase in accounts receivable, $20,000. Increase in accounts payable, S 10,000. Increase in inventories, Decrease in income taxes payable, S20,000.