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Show me the steps to solve 15. Rose maintains its records on a cash basis...

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Accounting

Show me the steps to solve 15. Rose maintains its records on a cash basis you have been engaged to convert its cash basis income statement to the accrual basis the cash basis income statement along with additional information follows
Income Statement (cash basis)
For the year ended December 31,2025
Cash receipts for customers 400,000
cash payments
salaries and wages 130,000
income taxes 30,000
utilities and rent 60,000-220,000
net income 180,000
Additional information
balances at 12/31
20252024
accounts receivable $40,000 $60,000
salaries and wages payable $30,000 $20,000
income taxes payable $24,000 $20,000
utilities and rent payable $4000 $8000
accumulated depreciation $82,000 $70,000
no plant assets were sold during 2025. Compute net income on an accrual basis

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