1. Performed counseling services for $33,200 cash. 2. On February 1 , Year 1 , paid $23,400 cash to rent office space for the coming year. 3. Adjusted the accounts to reflect the amount of rent used during the year. LIFE, INC. Balance Sheet As of December 31, Year 1 LIFE, INC. Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ Cash payment for rent } & \\ \hline Net cash flow from operating activities & & \\ \hline Cash flows from investing activities & & $ \\ \hline Cash flows from financing activities & & \\ \hline Net change in cash & & \\ \hline Plus: Beginning cash balance & & \\ \hline Ending cash balance & & $ \\ \cline { 1 - 4 } & & \\ \hline \end{tabular}