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Required information [ The following information applies to the questions displayed below. ] Sye Chase started and operated a small family architectural firm in Year

Required information
[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 $24,100 of services on account, and (2) he purchased $7,800 of supplies on account. There were $900 of supplies on hand as of December 31, Year 1.
d. Explain why the amounts of net income and net cash flow from operating activities differ.
\table[[Net income is,; Net Cash Flow from Operating Activities is],[of supplies were used, but none were paid for.,]]
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