Reliable Auto Service was started on January 1, Year 1. The company experienced the following events during its first two years of operation:

Events Affecting Year 1
1. Provided $52,000 of repair services on account.
2. Collected $32,000 cash from accounts receivable.
3. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 2 percent of the service revenue on account.

Events Affecting Year 2
1. Wrote off a $320 account receivable that was determined to be uncollectible.
2. Provided $65,000 of repair services on account.
3. Collected $66,000 cash from accounts receivable.
4. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the service revenue on account.

Required
a. Organize the transaction data in accounts under an accounting equation.
b. Determine the following amounts:
(1) Net income for Year 1.
(2) Net cash flow from operating activities for Year 1.
(3) Balance of accounts receivable at the end of Year 1.
(4) Net realizable value of accounts receivable at the end of Year 1.
c. Repeat Requirements a and b for the Year 2 accounting period.