Summarized operations for Bayles Co. for the month of July are as follows. Revenues recognized: for cash

Question:

Summarized operations for Bayles Co. for the month of July are as follows.
Revenues recognized: for cash $20,000; on account $70,000.
Expenses incurred: for cash $26,000; on account $40,000.
Indicate for Bayles Co.
(a) The total revenues,
(b) The total expenses,
(c) Net income for the month of July.