At end of year 20X0 (EOY 20X0) Real Estate Advisors (REA) had inception-to-date Net Income of $40K. In 201, the company's second quarter (Q2) Net Income was $10K. Its total Net Income for Q3 and Q4 was \$15K. REA's 20X1 full-year net income was $15K. What was REA's 201 first quarter net income? Hint: Always true for Income Statement and Cash Flow Statement items: Value Annual = Value Q1 + Value Q2 +... + Value Q4 = Value Month 1+ Value Month 2+.+ Value Month 12 Question 2 0/1 pts For the first quarter of 201 (Q1), REA's Balance Sheet reported Accounts Receivable (AR) of $20K. (For REA, AR represents issued but unpaid invoices). During Q2, all but $5K of the outstanding Q1 invoices were paid. At the end of Q2, REA's CFO noted that $10K of the $30K of invoices issued during quarter were unpaid. What amount of AR should be reported on REA's Q2 20X1 Balance Sheet? Hint: For Balance Sheet Terms; Value End of Period = Value Beginning of Period - Reductions + Additions