Hamby Inc. has sales of $2,065,000 for the first quarter of 2020. In making the sales, the company incurred the following costs and expenses. Variable Fixed

Cost of goods sold $772,000 $620,000
Selling expenses 97,900 62,800
Administrative expenses 84,700 69,000

Required:
Prepare a CVP income statement for the quarter ended March 31, 2017.

Rebel technology maintains its records using cash-basis accounting. during the year, the company received cash from customers, $43,000, and paid cash for salaries, $23,500. at the beginning of the year, customers owe rebel $1,000. by the end of the year, customers owe $6,600. at the beginning of the year, rebel owes salaries of $5,600. at the end of the year, rebel owes salaries of $3,300. determine cash-basis net income and accrual-basis net income for the year.