PART II: (Total Marks = 50) Project: BARBELLE LADIES CLUB Expansion new investment would cost AED 850,000 to invest today. These assets will last for 5 years with no salvage value. The company uses a straight-line depreciation method. Management has prepared the projected income statements for 5 years given below. Year 1 Year 2 Year 3 Year 4 Year 5 Sales 400,000 450,000 500,000 550,000 550,000 Selling 60,000 65,000 65,000 65,000 70,000 expense 52,000 50,000 55,000 55,000 55,000 Rent expense Salaries expense Depreciation expense 53,000 55,000 55,000 60,000 60,000 150,000 150,000 150,000 Net Income Cash flows Question 1) Calculate Net Income and Cash flow for each year (Show your calculations). (10marks)