Required information Exercise 13-10A (Algo) Recording supplies and identifying their effect on financial statements LO 13-1, 13- 3, 13-4 [The following information applies to the questions displayed below.] Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $20,300 of services on account, and (2) he purchased $5,400 of supplies on account. There were $950 of supplies on hand as of December 31, Year 1. Exercise 13-10A (Algo) Part d d. Explain why the amounts of net income and net cash flow from operating activities differ. Net income is ; Net Cash Flow from Operating Activities is of revenue was earned on account, but none was collected; of supplies were used, but none were paid for