Cindy opens a retail store. Her sales during the year are $550,000, of which $60,000 has not been collected at year end. Her purchases are $320,000. She still owes $45,000 to her Suppliers, and at year end she has $60,000 of inventory on hand. She incurred operating expenses of $190,000 . At year end she has not paid $15,000 of the expenses.A. Compute her net income from the business using the accural method B Compute her net income from the business using the cash method.

Accural Cash

Sales

Cost of Goods Sold

Gross Profit

Operating Expenses

Net Income

C. Paying the $10,000 she owes for operating expenses before year end								change
her net income under the accural method, and						her net income under the cash
method.