QUESTION 19 A small consulting som had the following transactions over a two-month period, December 20x6 and January 20X7, and no other transactions Clent services were performed and billed during December 20X6 for total fees of $97.000. Of this amount 576,000 was collected in December 20X6 and the balance was colleded in January 20X7 Expenses incurred to service these clients during December 20X6 were $70,000 of which 530,000 was paid in December 20x6 and the remaining 540.000 was paid in January 20x7 Using a cash based approach, what was the net income for the month of December 20X6? O a $46000 OD 56,000 C 567.000 Od 527 000 QUESTION 20 The following account balance Information is well as of December 31, 20x4 for XYZ CO Cash Accounts receivable Marketable securities Prepaid in warance Equipment (not) Current Sabtes al Long term laties (total) Common stock Retained earnings 51000,000 53.000.000 $1.500.000 S500 000 $5,000,000 $1.100.000 57000.000 2 000 000 51.100.000 What is XYZ Co.'s quick or acides to O545 Ob 1091 O 140 Od 50 QUESTION 21 Click Save and submitted bitchie All Arellan