I don't understand how to answer this question with accural vs cash basis of accounting. thank u.

Application Problem 2-2A a-b Based on the following transactions, answer the following questions. i. Credit sales to customers totalled $33,600. ii. Cash sales totalled $110,400. iii. Cash collections on account from customers totalled $28,800. iv. Cost of goods sold during the period was $81,600. v. Payments made to suppliers of inventory totalled $72,000. vi. Wages of $31,200 were paid during the year. In addition, wages of $2,400 remained unpaid at year end; there were no wages unpaid at the beginning of the year. vii. Halfway through the year, a one-year insurance policy was purchased at a cost of $1,000. Calculate the revenues, expenses, and net income that would be reported on the cash basis. (Enter loss amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Revenues $ Expenses $ Net Income / (Loss) $ LINK TO TEXT :alculate the revenues, expenses, and net income that would be reported on the accrual basis. (Enter loss amounts rsing either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Revenues E Expenses $|:| E \\let Income / (Loss) LINK TO TEXT