Review the following two transactions and analyze their effect, if any, on Turner Company's net income and net cash flows. Required: 1. Indicate the effect (increase, decrease, or no effect) that each transaction has on net income and net cash flow. 2. Indicate the amount of the effect, ignoring taxes. Transaction Net Income Effect Net Cash Flow Effect 1. Turner Company declared a cash dividend of $13,200 SO so 2. Turner Company received $7,300 on account from their client, for work previously billed to the client. Increase Decrease No Effect Increase Decrease No Effect Increase Decrease No Effect Increase Decrease No Effect so > 0 SO 5