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Metlock Industries collected $104,000 from customers in 2019. Of the amount collected, $25,800 was for services performed in 2018. In addition, Metlock performed services worth $38,600 in 2019, which will not be collected until 2020. Metlock Industries also paid $73,600 for expenses in 2019. Of the amount paid, $30,200 was for expenses incurred on account in 2018. In addition, Metlock incurred $43,300 of expenses in 2019, which will not be paid until 2020. Compute 2014 cash-basis net income.
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Metlock Industries collected $104,000 from customers in 2019. Of the amount collected, $25,800 was f...
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