Sheridan Corp. maintains its financial records on the cash basis of accounting. Interested in securing a long-term loan from its regular bank, Sheridan Corp., requests you as its independent CPA to convert its cash-basis income statement data to the accrual basis. You are provided with the following summarized data covering 2019, 2020, and 2021. Cash receipts from sales: On 2019 sales On 2020 sales On 2021 sales Cash payments for expenses: 2019 2020 2021 $292,020 $163,350 $27,460 -0- 385,180 96,310 373,280 On 2019 expenses 181,360 65,930 26,670 On 2020 expenses 40,760 a 168,870 52,050 On 2021 expenses 49,420 b 220,490 Prepayments of 2020 expenses. bPrepayments of 2021 expenses.