Problem: As of December 31, 2024, Rusty's Bait Shop, a calendar year cash basis taxpayer, had the following items: Income, the right to which was fixed and the amount which was determinable in 2024, but was received in 2025 $20,000 Inventory that was deducted when purchased in 2024 $5,000 Expenses, the liability for which was fixed, the amount of which was determinable, and with respect to which economic performance had occurred in 2024, but was paid in 2025 $7,000 Rusty's Bait Shop wishes to change to an overall accrual method for calendar year 2025, and the IRS insists that he use the cut-off method. What should he report as a result of the above transactions in 2025? Group of answer choices +$27,000 +$13,000 +$18,000 +$8,000 -$27,000 -$13,000