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Required:
a. What amount of revenue will Lee report on the Year 1 income statement?
b. What amount of cash flow from revenue will be reported on the statement of cash flows?
c. What is the net income for the period?
d. What is the net cash flow from operating activities for the period?
e. What is the amount of net cash flow from investing activities?
f. What is the amount of net cash flow from financing activities?
g. What amounts of total assets, liabilities, and equity will be reported on the year-end balance sheet?

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