In Year 1, Lee Incorporated billed its customers $56,200 for services performed. The company collected $41,000 of the amount billed. Lee incurred $36,100 of other operating expenses on account. Lee paid $23,900 of the accounts payable. Lee acquired $29,000 cash from the issue of common stock. The company invested $19,000 cash in the purchase of land. Required (Hint: Identify the six events described in the paragraph and record them in general ledger accounts under an accounting equation before attempting to answer the questions.) Use the preceding information to answer the following questions. a. What amount of revenue will Lee report on the Year 1 income statement? b. What amount of cash flow from revenue will be