Problem: In year 1, X Corp. had revenues on account from 10 customers, $10 each, totaling $100. X has no operating expenses. Based on past practice, we expect that one customer will not pay, but we do not know which customer will not pay. None of the customers paid yet? Questions: (year 1) 1. What is taxable income if X is a cash-basis taxpayer? 90 2. What is taxable income if X is an accrual-basis taxpayer? 100 3. What is pre-tax income for financial accounting? Continued: In year 2, all customers except for 1 paid up a total of $90. The customer that is delinquent declared bankruptcy and has no remaining assets. 1. What is taxable income for year 2 if X is a cash-basis taxpayer? 2. What is taxable income for year 2 if X is an accrual-basis taxpayer? 3. What is pre-tax income for year 2 for financial accounting