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Question Not yet answered Points out of 2.00 Wyoming Corp. maintains its accounting records on the cash basis but restates its financial statements to the
Question Not yet answered Points out of 2.00 Wyoming Corp. maintains its accounting records on the cash basis but restates its financial statements to the accrual method of accounting. Wyoming had $110,000 in cash-basis pretax income for 2019. The following information pertains to Wyoming's operations for the years ended December 31, 2018 and 2019 2018 $65,000 35,000 40,000 13,000 2019 $57,000 12,000 51,000 6,000 Flag question Accounts receivable Accounts payable Inventory Prepaid Expenses Under the accrual method, what amount of income before taxes should Wyoming report in its December 31, 2019 income statement? Select one O a. $129,000 O b. $165,000 C. $105,000 O d. $91,000 Oe $151,000
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