Using the transaction data above, prepare (1) a cash-basis balance sheet and (2) an accrual-basis balance sheet as of January 31, 2025. (List assets in order of liquidity CRANE SALES AND SERVICE Balance Sheet Assets Liabilities and Owners' Equity (1) Cash Basis (2) Accrual Basis $ Current Attempt in Progress On January 1, 2025, Norma Smith and Grant Wood formed a computer sales and service company in Sorpsville, Arkansas, by wivesting $90.100 cash the new company Cone Sales and Service has the following actions.faning an L Pays $15.000 in advance for 3 months' rent of offior, showroom and repair space 2 Purchases 41 personal computers at a cost of $1,600 each, 7 graphics computers at a cost of $2.00 each, and 26 peers at a cost of $400 each paying cahapon delivery 3. Sales, repair, and office employees earn $12.700 in salaries and wages during January, of which 53.300 was payable at the door 4 Sells 31 personal computers at $2.650 each 5 graphics computers for $3700 each and 16 printers for 5600 each; $25.100 is received in cash in January and $35,150 sold on a deterred paynem bo Other operating sopues of $4,500 are incurred and paid for during January $2.100 of inciered expers are payable at Jury 51 Current Act Buldings A Depreciation-ding Intangible Assets Pants Total Avasta Accumulated DepreciationSomers Pronghor Corporation Balance Shoet December 21, 2008 Assets Current Labs Liabilities and Stockholders' Equity Total Current La Cagrial Treasury Shadi 11000 Current Attempt in Progress Pronghorn Corporation's balance sheet at the end of 2024 included the following items. Current assets (Cash $82,000) $236,250 Current liabilities $151,250 Land 32,200 Bonds payable 101,250 Buildings 121,250 Common stock 182,200 Equipment 92,200 Retained earnings 46,200 Accum. depr.-buildings (31,250) Total $480,900 Accum. depr.-equipment (11,000) Patents 41,250 Total $480,900 The following information is available for 2025. 1. Net income was $50,870. 2. 3. Equipment (cost $21,250 and accumulated depreciation $9,250) was sold for $11,250. Depreciation expense was $5,250 on the building and $10,250 on equipment. 4. Patent amortization was $2,500. 5. Current assets other than cash increased by $29,000. Current liabilities increased by $14,250. 6. An addition to the building was completed at a cost of $28,250. 7. A long-term investment in stock was purchased for $16,000. 8. Bonds payable of $52,200 were issued. 9. Cash dividends of $30,000 were declared and paid. 10. Treasury stock was purchased at a cost of $11,000