View Policies Current Attempt in Progress Whispering Corp. maintains its financial records on the cash basis of accounting. Interested in securing a long-term loan from its regular bank, Whispering Corp. requests you as its independent CPA to convert its cash-basis income statement data to the accrual basis. You are provided with the following summarized data covering 2019, 2020, and 2021. 2019 2020 2021 Cash receipts from sales: On 2019 sales $273,490 $144,570 $29,220 On 2020 sales -0- 383.860 87,200 On 2021 sales 369,690 Cash payments for expenses: On 2019 expenses 175,290 65,000 23,880 On 2020 expenses 37,880 * 161,990 58,810 On 2021 expenses 49.450 b 229,150 "Prepayments of 2020 expenses. Prepayments of 2021 expenses. (a) Using the data above, prepare abbreviated income statements for the years 2019 and 2020 on the cash basis. (Enter loss using either a negative sign preceding the number eg. -45 or parentheses eg (45).) WHISPERING CORP. Income Statement (Cash Basis) For the Year Ended December 31, (b) eTextbook and Media Save for Later 2019 2020 Attempts: 0 of 4 used Submit Answer The parts of this question must be completed in order. This part will be available when you complete the part above