TUV Logistics provides freight transportation. Financial transactions for 2023 are as follows:

Transactions (in $ millions)	Amount
Cash Receipts	150.0
Credit Sales	55.0
Cash Payments	100.0
Accounts Receivable	35.0
Fuel Expenses	40.0
Estimated Maintenance Costs	15.0

Requirements:

• Prepare TUV Logistics' income statement for 2023 using the modified cash basis.
• Calculate net income considering the conservatism principle.
• Discuss the impact of estimated maintenance costs on financial statements.
• Analyze the treatment of accounts receivable and fuel expenses under the conservatism principle.