In Year $1,$ Lee Incorporated billed its customers $$57,700$ for services performed. The company collected $$41,400$ of the amount billed. Lee incurred $$37,600$ of other operating expenses on account, and paid $$24,800$ of the accounts payable. It acquired $$31,000$ cash from the issue of common stock and invested $$13,000$ cash in the purchase of land.

Required:

$($Hint: Identify the six events described in the paragraph and record them in 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 reported on the statement of cash flows?

c$.$ What is the net income for the period?

d$.$ What is the net cash flow from operating activities for the period?

f$.$ What is the amount of net cash flow from investing activities?

g$.$ What is the amount of net cash flow from financing activities?

h$.$ What amounts of total assets, liabilities, and stockholders' equity will be reported on the year$-$end balance sheet?