Connect 2-712345678910111213141516171819202122232425262728293031323334353637383940A B C D E F G H I J KEvent = Liabilities + Cash FlowCash Land A/R = A/P + C/S R/E0 0 62,000 = 0 + 0 62,000 Revenue N/A51,000 0 -51,000 = 0 + 0 0 51,0000 0 0 = 39,000 + 0 -39,000 Op Expens N/A-31,000 0 0 = -31,000 + 0 0 -3100040,000 0 0 = 0 + 40,000 0 40,000-21,000 21,000 0 = 0 + 0 0 -21000Totals39,000 21,000 11,000 = 8,000 + 40,000 23,000ABCDEFGHAssetsCash 39,000Land 21,000A/R 11,000Total Asset 71,000LiabilitiesA/P 8,000Total Liabil 8,000EquityC/S 40,000R/E 23,000Total Equity 63,000Total Equity And Liabilities71,000$9,000 for Net Cash Flow FALee IncBalance SheetAs Of the Year Ended 12/31/2016$51,000 for Cash Flow$23,000 for Net Income$51,000 for Net Cash Flow OPANet Cash Flow 39,000$21,000 for Net Cash Flow IAAssetsOwners Equity $62,000 for RevenueNet Income is different from Net Cash Flow because of timing differences. Net income reflects whenever revenue or expenses are recorded, but Net Cash Flow includes only when the cash account is effected.Connect