Wilton Company had the following transactions during 2010:

The following information applies to questions 11 through 13: Wilton Company had the following transactions during 2010: Performed services and billed customers for $5,600, all on account. Collected $5,100 in 2010 for the above services. . Incurred and paid $1,250 in salaries Incurred expenses of 2,750, of which $2,000 was paid. The balance will be paid in 2011. .Purchased airline tickets for $300 in December for a business trip to take place in 2011 11. What is Wilton's 2010 net income using accrual accounting? a. $2,350 b. $1,600 c. $1,550 d. $1,300 e. 800 12. What is Wilton's 2010 net income using cash basis accounting? a. $2,350 b. $1,600 c. $1,550 d. $1,300 e. 800 13. Assuming Wilton uses accrual accounting, what would be the balance in their Service Revenue account after all closing entries have been made? a. $5,600 b. $5,100 c. $1,550 d. 0