Question: 1) On November 1, 2021 Flower Corp. purchased 90-day municipal bonds with a face value of $90,000 for $72.000. Fair value of the bonds on November 30, 2021 was 83,000, on December 31, 2021 was $89,000; on January 31, 2022 was $90,000. Required: If the investment (bond) is classified as "valued at fair value through other comprehensive income"; a) Prepare necessary journal entries for November 1, 2021 and November 30, 2021. b) Show the impacts of the journal entries on the partial Balance Sheet as of November 30, 2021. c) Show the impacts of the journal entries on the partial Income Statement for November 2021. Question: 2) Mountain Industries collected $216,000 from customers in 2021. Of the amount collected, $50,000 was for services performed in 2020. In addition, Mountain performed services worth $72,000 in 2021, which will not be collected until 2022. Mountain Industries also paid $144,000 for expenses in 2021. Of the amount paid, $60,000 was for expenses incurred on account in 2020. In addition, Mountain incurred $84,000 of expenses in 2021, which will not be paid until 2022. Required: a) Compute 2021 cash-basis net income (loss). b) Compute 2021 accrual-basis net income (loss).