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Coenplete tuls question by entering your anwwers in the tobs belove. During Year 1, Chang Corporation earned $5,300 of castrievenue and accued $4,000 of salaries expense. Required Based on this information alone (Hint Recond the events in genteral ledger accounts under ah accounting equation before satusfying the requirements) o. Prepare the December 31, Year 1, balance sheet. b. Determine the amount of net income that Chung would report on the Year 1 income statement c. Determine the amount of net cash flow from operating activities that Chung would report on the Year 1 statement of cash fowns Complete this question by entering your answers in the tabs below. Based on this information alone: (Hint: Recond the events in general ledgur accounts under an accounting equation before Complete this question by entering your answers in the tabs below. Prepare the December 31 , Year 1 , balance sheet. Required Based on this information alone: (Hint. Record the events in general ledger accounts under an accounting equation before satisfying the requirements) o. Prepare the December 31, Year 1, balance sheet b. Determine the amount of net income that Chung would report on the Year 1 income statement: c. Determine the amount of net cash flow from operating activities that Chung would report on the Year 1 statement of cash flows. Complete this question by entering your answers in the tabs below. Determine the amount of net income that chung would report on the Yoar 1 income stotement- Deformine the amount of net cash flow from operating activities that Chung would report on the Year 1 statement of cash flows. Required o. Show the effects of the advance payment and revenue recognition on the Year 1 financial statements using a horizontal statements model like the following one. In the Cash Fows column, use OA to designate operating activity, IA for investing activity, FA for financing activity, and NC for net change in cash if the account is not affected, leave the cell blank. b. How much revenue would Bell recognize on the Year 2 income statement? c. What is the amount of cast flow from operating activities in Year 2 ? Complete this question by entering your answers in the tabs below. How much revenue would Bell recognize on the Year 2 income statement? What is the amount of cash flow from operating activities in Year 2 ? (Do not round intermediate calculations and round your final answers to nearest whole dollar.)