Question 9 of 11 < > Blossom & Associates Income Statement (Cash Basis) For the Year Ended December 31, 2020 Cash receipts from customers Cash payments: Salaries and wages Income taxes Insurance Interest Net income Additional information: $434,400 $168,800 68,500 38,900 29.100 305,300 $129,100 Balances at 12/31 2020 2019 Accounts receivable $47,200 $28,400 Salaries and wages payable 10,500 19,100 Income taxes payable 25,900 18,000 Prepaid insurance 9,900 4,100 Accumulated depreciation 89,900 85,200 Interest payable 2,730 9,200 No plant assets were sold during 2020. Prepare the income statement as per accrual basis. Blossom & Associates 11.