Consider the following information 1 Service Revenue for the year = $84,000. Of this amount, $72,000 is collected during the year and $12,000 is expected to be collected next year. 2. Salaries Expense for the year = $44,000. Of this amount, $37,000 is paid during the year and $7,000 is expected to be paid next year 3. Advertising Expense for the year = $12,000. All of this amount is paid during the year. 4. Supplies Expense for the year = $6,000. No supplies were purchased during the year. 5. Utilities Expense for the year $16,000. Of this amount, $13,000 is paid during the year and $3,000 is expected to be paid next year 6. Cash collected in advance from customers for services to be provided next year (Deferred Revenue) = $4,000. ok nces Required: 1. Calculate operating cash flows. (List cash outflows as negative amounts.) 1. Cash colected from customers for services provided 2. Salaries paid for the year 3. Advertising paid for the year 4 Supplies paid for the year 5. Uites paid for the year 6. Cash collected in advance from customers Net operating cash flows 5 2. Calculate net income. (List expenses as negative amounts.) 1. Service Revenue for the year 2. Salaries Expense for the year 3. Advertising Expense for the year 4. Supplies Expense for the year 5. Utilities Expense for the year 6. Deferred revenue Net income $ 0