Skidmore Music Company had the following transactions in March: a. Sold instruments to customers for $16,400; received $10,200 in cash and the rest on account. The cost of the instruments was $8,200. b. Purchased $3,400 of new instruments inventory; paid $1,500 in cash and owed the rest on account. c. Paid $560 in wages to employees who worked during the month. d. Received $3,800 from customers as deposits on orders of new instruments to be sold to the customers in April. e. Received a $290 bill for March utilities that will be paid in April. Complete the following statements: Accrual Basis Income Statement Revenues Sales to customers $ 16,400 Cash Basis Income Statement Revenues Cash sales Customer deposits Expenses Inventory purchases Wages paid Expenses Cost of sales Wages expense Utilities expense Net income Net income