During Year 1, Chung Corporation earned $6,900 of cash revenue and accrued $3,800 of salaries expense. Required Based on this information alone: 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.