During Year 1, Chung Corporation earned $7100 of cash revenue and accrued $4,400 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 Req A Req 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 Salaries Cash Common Retained Payable Stock Earnings Event + Earned revenue Accrued salaries 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 c. Determine the amount of net cash flow from operating activities that Chung would Complete this question by entering your answers in the tabs below. I Accounting Equation Req A Req B and C Based on this information alone: (Not all cells require input. Enter any decreases to acco CHUNG CORPORATION Accounting Equation - Year 1 Assets Liabilities Stockholders' Equity Salaries Common Retained Cash Payable Stock Earnings II + Event = + + Earned revenue = + + Accrued salaries II + + + Ending balance = + Accounting Equation Req A Req B and C 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 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 th Complete this question by entering your answers in the tabs below. Accounting Equation Req A Reg B and C Determine the amount of net income that Chung would report on the Year 1 income statement. Deter cash flow from operating activities that Chung would report on the Year 1 statement of cash flows. b. Net income c. Net cash flow from operating activities ReqA ReqB and