During Year 1, Chung Corporation earned $5,300 of cash revenue and accrued $3,300 of salaries expense. Required Based on this information alone: (Hint: Record the events in accounts under an accounting equation before satisfying the requirements.) (Enter any decreases to account balances with a minus sign.) CHUNG CORPORATIOA Accounting Equation - Year 1 Assets Labilities + Cash Salarios Payable Event Stockholders' Equity Common Retained Stock Earnings Eumed covendo Accrued salarios Ending balance a. Prepare the December 31, Year 1, balance sheet. CHUNG CORPORATION Balance Sheet As of December 31, Year 1 Assets Total assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity b. Determine the amount of net income that Chung would report on the Year 1 income statement Not incomo c. Determine the amount of net cash flow from operating activities that Chung would report on the Year 1 statement of cash flows. Not cash flow from pointing activities