Presented below is the comparative statement of income, prepared on a cash basis, for Ener-Jet Ltd. for the past two years. The manager is puzzled by the fact that net income was lower in 2023 than 2022. Ener-Jet LTD. Statement of Income, Cash Basis Years Ended December 31 Service revenue 2023 $350,000 2022 $365,000 Expenses Salaries expense. 200,000 190,000 Office expense 54,000 55,000 Repairs and maintenance expense 20,000 15,000 Interest expense.. 15,000 2,000 Total expenses.. 289,000 262,000 Income before income tax. 61,000 103,000 Income tax expense. 24.400 41,200 $ 36,600 $61,800 Net income.. In speaking with the manager, you gather the following information: 1. The company borrowed $200,000 on June 1, 2022 and repaid the amount with interest on June 1, 2023. The interest rate was 6%. The journal entry to record the repayment on June 1, 2023, was: Bank Loan Payable Interest Expense.... Cash. 200,000 12,000 212,000 2. A customer made a deposit of $15,000 on December 1, 2022, for services to be performed in January 2023. The journal entry made on December 1, 2022, was: Cash..... Service Revenue 15,000 15,000 3. A bill for $4,000 maintenance work done in December 2022 was paid on January 15, 2023. The journal entry to record the payment in 2023 was: Repairs and Maintenance Expense Cash. Instructions - 20 marks 4,000 4,000 Assuming that no adjusting entries were made for the above transactions, prepare a revised comparative statement of income for 2022 and 2023, using the accrual method.