*Assume that you have been hired as a consultant by Mary G to help her and Omar D. She asked you for your help on the GA

[answerhappygod]

*Assume that you have been hired as a consultant by Mary G to
help her and Omar D. She asked you for your help on the GAAP income
statements and the legal issues arising from the lease
cancellation. Please write a business report for Ms. Grace. Please
incorporate material regarding the following questions:
Q2. Prepare three income statements for the year assuming that
revenue is to be recognized
when:
1. Crocodiles have been caught (i.e. production complete).
2. Crocodiles have been sold and delivered
3. Cash collections are complete
b. What income would you report for 2008? Why? Support your
answer with reference to
appropriate FASB rules.
**just need answer for B. " What income would you
report for 2008? Why?"