Skidmore Music Company had the following transactions in March: a. Sold instruments to customers for $16,600; received $11,000 in cash and the rest on account. The cost of the instruments was $7,200 b. Purchased $4,900 of new instruments inventory; paid $1,600 in cash and owed the rest on account. c. Paid $680 in wages to employees who worked during the month d. Received $3,100 from customers as deposits on orders of new instruments to be sold to the customers in April e. Received a $260 bill for March utilities that will be paid in April Complete the following statements Accrual Basis Income Statement Cash Basis Income Statement Revenues Sales to customers Revenues Cash sales Customer deposits Expenses Expenses Inventory Cost of sales urchases Wages expense Utilities expense Wages paid Net income Net income