Transactions Date May1 May5 May9 May14 May23 May31 May31 May31 Netincome(loss) Requirements 1. Show whether each transaction would be handled as a revenue or an expense using both the cash basis and accrual basis accounting systems by completing the table provided. (Expenses should be shown in parentheses.) Also, indicate the dollar amount of the revenue or expense. The May 1 transaction has been completed as an example. 2. After completing the table, calculate the amount of net income or net loss for Calorie Catering under the accrual basis and cash basis accounting systems for May. 3. Considering your results from Requirement 2 , which method gives the best picture of the true earnings of Calorie Catering? Why? Requirement 1. Show whether each lransacton would be handled as a rovenue of an expenso using both the cash basis and accrual basis accounting systems by completing the tabie transactions that do not afled revenues or expentes.)