You are provided the following information for the Robert Ray Consulting Associates. (Click the icon to view the data.) ) Requirement Assume that all supplies purchased were used in operations in the year of purchase. Rental payments pertain to rental space used in the year of payment 1. Prepare an income statement for Robert Ray for 2023 and 2022 under both the cash and the accrual basis of accounting. 2. Compute operating cash flow for both years under cash and accrual bases. Requirement 1. Prepare an income statement for Robert Ray for 2023 and 2022 under both the cash and the accrual basis of accounting. Begin by preparing Robert Ray's income statement for 2023 and 2022 under the accrual basis of accounting and then for 2023 and 2022 under the cash basis. (If an input field is not used in the statement, leave the input field empty, do not select a label or enter a zero.) Robert Ray Consulting Associates Data Table - X Comparative Income Statement For the Year Ended December 31, 2023 Accrual Basis Cash Basis 2023 2022 2023 2022 2023 2022 Service revenue (accrual basis) $ 220,000 $ 190.000 Cash collected from clients 75,000 94,000 Operating expenses: Salary expense (accrual basis) 13,000 15,000 Purchased supplies for cash 3,600 2,400 Purchased supplies on account 2,000 1,450 II Depreciation expense 2,100 2,100 II Rent paid in cash 6,700 2,800 Prepaid insurance 5,300 -0- ( Print ) Operating Income Print Done Requirement 2. Compute operating cash flow for both years under cash and accrual bases. (Use a minus sign or parentheses for any cash outflows and/or net cash used by operating activities. If an input field is not used in the statement, leave the input field empty; do not select a label or enter a zero.) Robert Ray Consulting Associates Partial Statement of Cash Flows (Direct Method) For the Current Year Ended Operating Activities: 2023 2022 HITNO Net Cash Provided (Used) by Operating Activities