During Year 1 Chung Corporation earned $5,100 of cash revenue and accrued $2,700 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.) (Enter any decreases to account balances with a minus sign.) Assets CHUWG CORPORATION Accounting Equation - Year 1 Liabilities Stockholders' Equity Salaries Payable Retained + Common Stock + Earnings Event Cash Earned revenue Accrued salaries Ending balance a. Prepare the December 31, Year 1, balance sheet. CHUNG CORPORATION Balance Sheet As of December 31, Year 1 Assets nces Total assets Liabilities Total liabilities Stockholders' Equity Total stoodholders equity Total liabilities and stoodholders equity b. Determine the amount of net Income that Chung would report on the Year 1 Income statement. Net income c. Determine the amount of net cash flow from operating activities that Chung would report on the Year 1 statement of cash flows. Net cash flow from operating activities