During 2018, Chung Corporation earned $8,000 of cash revenue and accrued $5,000 of salaries expense. Required Based on this information alone: (Hint. Record the events in general ledger accounts under an accounting equation before satisfying the requirements.) a. Prepare the December 31, 2018, balance sheet. b. Determine the amount of net income that Chung would report on the 2018 income statement. c. Determine the amount of net cash flow from operating activities that Chung would report on the 2018 statement of cash flows. Complete this question by entering your answers in the tabs below. Accounting Equation Reg A Req B and C Based on this information alone: (Hint: Record the events in general ledger accounts under an accounting equation before satisfying the requirements.) (Enter any decreases to account balances with a minus sign.) CHUNG CORPORATION Accounting Equation - 2018 Assets = Liabilities + Stockholders' Equity Cash = Salaries Retained Common Payable Stock Earnings Event Earned revenue Accrued salaries Ending balance Accounting Equation Req A Req B and C Prepare the December 31, 2018, balance sheet. CHUNG CORPORATION Balance Sheet As of December 31, 2018 Assets Total assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Accounting Equation Req A Reg B and C Determine the amount of net income that Chung cash flow from operating activities that Chung wo b. Net income C. Net cash flow from operating activities