Sweet Catering completed the following selected transactions during May 2016: May 5: Received and paid electricity bill, $50 May 9: Received cash for meals served to customers, $2,070 May 23: Served a banquet on account, $1,810 May 31: Accrued salary expense, $3,410 May 31: Recorded prepaid insurance expired, $110

If Sweet Catering had recorded transactions using the Cash method, how much net income (loss) would they have recorded for the month of May? If there is a loss, enter it with parentheses or a negative sign.

If Sweet Catering had recorded transactions using the Accrual method, how much net income (loss) would they have recorded for the month of May? If there is a loss, enter it with parentheses or a negative sign.