In the first year of operations, Harden Co. earned 39,000 in revenues and received $33,000 cash from these customers. The company incurred expenses of $22,500 but had not paid $2,250 of them at year-end. Harden also prepaid $3750 cash for expenses that would be incurred the next year. How would I calculate the first year's net income under both the cash basis and the accrual basis of accounting.