Cardinal Company is considering a five-year project that would require a $2,945,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 18%. The project would provide net operating income in each of five years as follows: Sales Variable expenses $2,873,000 1,019,000 Contribution margin Fixed expenses: Advertising, salaries, and other fixed out-of-pocket costs $ 754,000 589,000 1,854,000 Depreciation Total fixed expenses Net operating income 1,343,000 $ 511,000 Click here to view Exhibit 148-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using table. Required: 1. Which item(s) in the income statement shown above will not affect cash flows? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Sales Variable expenses Advertising, salaries, and other fixed out-of-pocket costs expenses 7 Depreciation expense