Pina colada industries collected $105,000 from customers in 2019. of the amount collected, $25,700 was for services performed in 2018. in addition, pina colada performed services worth $40,700 in 2019, which will not be collected until 2020. pina colada industries also paid $72,900 for expenses in 2019. of the amount paid, $30,500 was for expenses incurred on account in 2018. in addition, pina colada incurred $43,200 of expenses in 2019, which will not be paid until 2020. compute 2019 cash-basis net income.

$32,100

Explanation:

1. Cash Basis  net income in 2019:

Given that,

Pina Colada Industries collected = $105,000

services performed in 2018 = $25,700

services performed in 2019 = $40,700

Paid for expenses in 2019 = $72,900

Net Income = Amount collected from customers - Paid for expenses in 2019

                    = $105,000 - $72,900

                    = $32,100

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