During Year 1 Chung Corporation earned $5,200 of cash revenue and accrued $3,700 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 CHUNG CORPORATION Accounting Equation - Year 1 Liabilities Stockholders' Equity Salaries Common Retained Payable Stock Earnings Event Cash Earned revenue Accrued salaries Endng balance 0 0 . ol 0 a. Prepare the December 31, Year 1, balance sheet CHUNG CORPORATION Balance Sheet As of December 31, Year 1 Assets 0 Total Liabilities Total assets $ 0 Liabilities Total liabilities Stockholders' Equity $ 0 4 Total stockholders' equity Total liabilities and stockholders' equity 0 $ 0 b. Determine the amount of net income that Chung would report on the Year 1income statement Not income c. Determine the amount of net cash flow from operating activities that Chung would report on the Year 1 statement of cash flows. Natash flow from operating activities