Cordell Inc. experienced the following events in Year 1, its first year of operation: 1. Received $45,000 cash from the issue of common stock. 2. Performed services on account for $73,000. 3. Paid a $4,500 cash dividend to the stockholders. 4. Collected $51,000 of the accounts receivable. 5. Paid $45,000 cash for other operating expenses. 6. Performed services for $11,000 cash. 7. Recognized $1,500 of accrued utilities expense at the end of the year. \begin{tabular}{|l|l|l|} \hline & & \\ \hline b. & Net income & \\ \hline d. & Net cash flow from operating activities & \\ \hline e. & Before-closing balance & \\ \hline & After-closing balance & \\ \hline f. & Balance of retained earnings & \\ \hline \end{tabular}