Accrual basis.The records for Todd Inc. showed the following for 2014: 
Cash paid during the year for expenses, $42,500Show the computation of the amount of expense that should be reported on the income statement.
Definitions:
Customer Insights
Deep understanding and analysis of customers' behaviors, needs, and motivations, often derived from data analysis and market research.
Strategy Formation
The process of developing a set of critical decisions and actions that shape and guide what an organization is, who it serves, what it does, and why it does it.
Product Offerings
The complete set of products and services that a company makes available to consumers.
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