Cardinal Company is considering a five-year project that would require a $2,765,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 14%. The project would provide net operating income in each of five years as follows: Sales $2, 851, 000 Variable expenses 1, 150, 000 Part 1 of 4 Contribution margin 1, 701, 000 Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs $ 670, 000 Depreciation 553,000 points Total fixed expenses 1, 223, 000 Net operating income $ 478, 000 eBook Print Click here to view Exhibit 148-1 and Exhibit 148-2, to determine the appropriate discount factor(s) using table. References Required: 1. Which item(s) in the income statement shown above will not affect cash flows? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Sales 2 Variable expenses ? Advertising, salaries, and other fixed out-of-pocket costs expenses ? Depreciation expense