Question 2 Not yet answered Venice Corp. maintains its accounting records on the cash basis but restates its financial statements to the accrual method of accounting. Venice had $120,000 in cash-basis pretax income for 2018. The following information pertains to Venice's operations for the years ended December 31, 2018, and 2017: Points out of 3.00 2017 Accounts receivable Accounts payable $80.000 $ 40,000 2018 $50,000 60,000 P Flag question Under the accrual method, what amount of income before taxes should Venice report on its December 31, 2018 income statement? Select one: a. $130,000 b. $110,000 c. $70,000 d. $120,000 e. $170,000 Question 3 Given the following: Not yet answered Points out of 3.00 1/1/13 Total Assets 12/31/13 Total Assets 1/1/13 Total Liabilities 12/31/13 Total Liabilities 2013 Dividends 2013 Contributions from Owners 2013 Increase in Treasury Stock $100 $90 $37 $35 F Flag question $18 $15 $ 2013 Net Loss is: Select one: a. $38 b. $6 c. $12 d. $13 e. $8