> Stars Bakery started 12 months ago as a supplier of gluten free desserts to restaurants all over the province. During its first year of operations it eamed $62,000 in revenues and $51,000 in expenses The business collected $53,000 from customers and paid at but $2.500 to its suppliers. Stars also prepaid $7.500 for prepaid rent and other expenses for the next year. Calculate the net income under the cash basis and then under the accrual Begin by calculating net income for the cash basis, then the accrual basin Cash Basis Netice