During Year 1 Chung Corporation earned $5,400 of cash revenue and accrued $4,300 of salaries expense Required Based on this information alone a. Prepare the December 31, Year 1, balance sheet b. Determine the amount of net income that Chung would report on the Year 1 income statement c. Determine the amount of net cash flow from operating activities that Chung would report on the Year 1 statement of cash flows. Complete this question by entering your answers in the tabs below. Accounting Equation Rega Reg B and c Based on this information alone: (Not all cells require input. Enter any decreases to account balances with a minus sign.) CHUNG CORPORATION Accounting Equation - Year 1 Assets Liabilities Stockholders'Equity Event Cash Salaries Common Retained Payable Stock Earnings Eamed revenue Accrued salaries Ending balance 0 0 + + + 0 + 0 COM ReqA> Prepare the December 31, Year 1, balance sheet. CHUNG CORPORATION 2 Balance Sheet As of December 31, Year 1 Assets Total assets $ 0 Liabilities Total liabilities $ 0 Stockholders' Equity 0 Total stockholders equity Total liabilities and stockholders' equity S 0 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. 6. Net income Net cash flow from operating activities