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On October 1, Year 1, Jason Company paid $5.400 to lease office space for one year beginning immediately What is the amount of rent expense that will be reported on the Year 1 income statement and what is the cash outflow from rent that would be reported on the Year 1 statement of cash fiows? Multiphe Cholce $1,350;$1,350 $1.350,$5.400 $900:55.400 55,400:55,400 Warren Enterprises began operations during Year 1 . The company had the following events during Year 1 : - The business issued $35,000 of common stock to its stockholders. - The business purchased land for $27,000 cash. - Services were provided to customers for $31,000 cash. - Services were provided to customers for $20,000 on account. - The company borrowed $31,000 from the bank. - Operating expenses of $27,000 were incurred and paid in cash. - Salary expense of $2,300 was accrued. - A dividend of $19,000 was paid to the stockholders of Warren Enterprises. After closing, what is the balance of the Retained Earnings account as of December 31 , Year 1? On September 1, Year 1, Gomez Company collected $24,000 in advance from a customer for services to be provided over a one-year period beginning on that date. How much revenue would Gomez Company report related to this contract on its income statement for the year ended December 31 , Year 1? How much would the company report as net cash flows from operating activities for Year 1 ? Multiple Choice $8,000;$24,000 $24,000:$24,000 $0,$24,000 $8,000;$8,000