6. 10.00 points P1-3 Comparing Income with Cash Flow LO1-1 Huang Trucking Company was organized on January 1. At the end of the first quarter (three months) of operations, the owner prepared a summary of its activities as shown in the first row of the following tabulation: Required: 1. For each of the six transactions given in this tabulation, enter what you consider the correct amounts. The first transaction is illustrated. (Amounts to be deducted and losses/outflows should be indicated with a minus sign.) Computation of Income Cash $ 66,000 $ 55,000 Summary of Transactions Services performed for customers, $66,000, of which $11,000 remained uncollected at the end of the quarter. Cash borrowed from the local bank, $56,000 (one-year note). Small service truck purchased at the end of the quarter to be used in the business for two years starting the next quarter: cost, $12.500 cash. Wages earned by employees. $25,000, of which one-half remained unpaid at the end of the quarter. Service supplies purchased for use in the business, $3,800 cash, of which $900 were unused (still on hand) at the end of the quarter. Other operating expenses, $38,000, of which $6,500 remained unpaid at the end of the quarter. Based only on these transactions, compute the following for the quarter: Income (or loss) Cash inflow (or outflow)