On December 31, Brian Silvaggi completed the first year of operations for his new business. The following data are available from the company’s accounting records: Salesito: Customerse rematch cc oo Bm leks. Leyes eR lle A $145,000 Collections:from ieustormers How much net income (loss) should Brian report for the year ended December 31 according to

(a) cash-basis accounting and

(b) accrual-basis accounting? 2. Which basis of accounting provides the better measure of operating results for Brian?