refer to the information in e3 36 denis operated deniss great gifts until december 31 in the two months he sold merchandise to customers for 52000

Required:
a. Prepare income statements for Denis’s Great Gifts for the period ending December 31 on the cash basis and on the accrual basis. (To do this question, you will also =have to complete the spreadsheet required in E3-36.)
b. Explain why the two income statements are different.
c. Prepare a balance sheet as of December 31, 2017.
d. Assess the performance of Denis’ business using the statements you prepared. Also discuss any issues surrounding Denis’ inventory on December 31.