Listed below are several transactions that took place during the first two years of operations for the law firm of Pete, Pete, and Roy. Year 1 Year 2 Amounts billed to clients for services rendered $ 178,000 $ 228,000 Cash collected from clients 156,000 186,000 Cash disbursements Salaries paid to employees for services rendered during the year 86,000 96,000 Utilities 28,000 36,000 Purchase of insurance policy 58,800 In addition, you learn that the company incurred utility costs of $33,000 in year 1, that there were no liabilities at the end of year 2, no anticipated bad debts on receivables, and that the insurance policy covers a three-year period. Required: 1. & 3. Calculate the net operating cash flow for years 1 and 2 and determine the amount of receivables from clients that the company would 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