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 $23,500 of services on account, and (2) he purchased $4,800 of supplies on account. There were $1,100 of. supplies on hand as of December 31, Year 1. 4. Explain why the amounts of net income and net cash flow from operating activities differ