In addition, you learn that the firm incurred utlity costs of $39,000 in year 1 , that there were no liabilities at the end of year 2 , no anticipated bad debts on recelvables, and that the insurance policy covers a three-year period. Required: 1. \& 3. Calculate the net operating cesh flow for years 1 and 2 and determine the amount of receivables from clients that the firm woul show in its year 1 and year 2 balance sheets prepared according to the accrual accounting model. 2. Prepare an income statement for each year according to the accrual accounting model. Complete this question by entering your answers in the tabs below. Calculate the net operating cash flow for years 1 and 2 and determine the amount of recelvables from clients that the firm would show in its year 1 and year 2 balance sheets prepared according to the accrual accounting model. Note: Net cash outflows should be indicated by a minus sign. Required: 1. \& 3. Calculate the net operating cash flow for years 1 and 2 and determine the amount of receivables from clients that the firm show in its year 1 and year 2 balance sheets prepared according to the accrual accounting model. 2. Prepare an income statement for each year according to the accrual accounting model. Complete this question by entering your answers in the tabs below. Prepare an income statement for each year according to the accrual accounting model