Question 7 of 14 0/1 E Pina Colada Industries collected $105,000 from customers in 2019. Of the amount collected, $25,700 was for services performed in 2018. In addition, Pina Colada performed services worth $40,700 in 2019, which will not be collected until 2020. Pina Colada Industries also paid $72,900 for expenses in 2019. Of the amount paid $30,500 was for expenses incurred on account in 2018. In addition, Pina Colada incurred $43,200 of expenses in 2019, which will not be paid until 2020. (a) Compute 2019 cash-basis net income. Cash-basis net income $ (b) Compute 2019 accrual basis net income. $ Accrual-basis net income c e to search 0/1 Pina Colada Industries collected $105,000 from customers in 2019. Of the amount collected, $25,700 was for services performed in 2018. In addition, Pina Colada performed services worth $40,700 in 2019, which will not be collected until 2020. Pina Colada Industries also paid $72,900 for expenses in 2019. Of the amount paid, $30,500 was for expenses incurred on account in 2018. In addition, Pina Colada incurred $43,200 of expenses in 2019, which will not be paid until 2020. (a) Compute 2019 cash-basis net income. Cash-basis net income (b) Compute 2019 accrual basis net income. $ Accrual basis net income O . Type here to search