Question: View Pollcies Current Attempt in Progress Metlock Corp. maintains its financial records on the cash basis of accounting. Interested in securing a long-term loan from

records on the cash basis of accounting. Interested in securing a long-term

View Pollcies Current Attempt in Progress Metlock Corp. maintains its financial records on the cash basis of accounting. Interested in securing a long-term loan from its regular bank, Metlock 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 2024,2025 , and 2026 . 2Prepayments of 2025 expenses. bprepayments of 202.6 expenses. Using the data above, prepare abbreviated incomestatements for the years 2024 and 2025 on the cash basis. (Enter loss using either a negative sign preceding the number eg. 45 or parentheses eg. (45).)

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