3 Part 3 of 3. 5 oints Required information [The following information applies to the questions displayed below] Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $17,700 of services on account, and (2) he purchased $4,300 of supplies on account. There were $1,150 of supplies on hand as of December 31, Year 1. eBook Net income is 10 Phin References d. Explain why the amounts of net income and net cash flow from operating activities differ. Net Cash Flow from Operating Activities is of revenue was earned on account, but none was collected of supples were used, but none were paid for