During Year $1,$ Chung Corporation earned $$5,400$ of cash revenue and accrued $$3,600$ of salaries expense.

Required:

Based on this information alone: $($Hint: Record the events in accounts under an accounting equation before satisfying the requirements.$)$

Note: Enter any decreases to account balances with a minus sign.

Prepare the December $31,$ Year $1,$ balance sheet.

Determine the amount of net income that Chung would report on the Year $1$ income statement.

Determine the amount of net cash flow from operating activities that Chung would report on the Year $1$ statement of cash flows.

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