Selected data from Thornton Company follow: Required a. Compute the accounts receivable turijover for Year 3 . b. Compute the inventory turnover for Y Ear 3. c. Compute the net margin for Year 2 . (For all requirements, round your answers to 2 decimal places.) During Year 1, Chung Corporation earned $6,700 of cash revenue and accrued $3,200 of salaries expense. Required Based on this information alone: a. Prepare the December 31 , Year 1 , balance sheet. b. Determine the amount of net income that Chung would report on the Year 1 income statement. c. Determine the amount of net cash flow from operating activities that Chung would report on the Year 1 statement of cas Complete this question by entering your answers in the tabs below. Based on this information alone: (Not all cells require input. Enter any decreses to account balances with a minus sign.) During Year 1 , Chung Corporation earned $6,700 of cash revenue and accrued $3,200 of salaries expense. Required Based on this information alone: a. Prepare the December 31 , Year 1 , balance sheet. b. Determine the amount of net income that Chung would report on the Year 1 income statement. c. Determine the amount of net cash flow from operating activities that Chung would report on the Year 1 statement of cash flows. Complete this question by entering your answers in the tabs below. Prepare the December 31 , Year 1 , balance sheet. During Year 1, Chung Corporation earned $6,700 of cash revenue and accrued $3,200 of salaries expense. Required Based on this information alone: a. Prepare the December 31 , Year 1 , balance sheet. b. Determine the amount of net income that Chung would report on the Year 1 income statement. c. Determine the amount of net cash flow from operating activities that Chung would report on the Year 1 statement of cash flov Complete this question by entering your answers in the tabs below. Determine the amount of net income that Chung would report on the Year 1 income statement. Determine the amount of net cash flow from operating activities that Chung would report on the Year 1 statement of cash flows