Listed below are several transactions that took place during the second and third years of operations for the ABC Company. In addition, you learn that there were no anticipated bad debts on receivables, and the rent payment was for a two-year period, year 2 and year 3 . Required: 1. Calculate the net operating cash flow for years 2 and 3 . 2. Prepare an income statement for each year according to the accrual accounting method. Novigation: 1. Use the Open Excel in New Tab button to launch this question. isted below are several transactions that took place during the second and third years of operations for the ABC Company Additional information: There were no anticipated bad debts on receivables. The rent payment was for a two-year period, year 2 and year 3. 2 years Required: 1. Calculate the net operating cash flow for years 2 and 3 . 2. Prepare an income statement for each year according to the accrual accounting model. ABC Company Income Statements - Accrual basis Revenues Expenses: Salaries Advertising Utilities The rent payment was for a two-year period, year 2 and year 3. B c D 2 years Required: 1. Calculate the net operating cash flow for years 2 and 3. 2. Prepare an income statement for each year according to the accrual accounting model. ABC Company Income Statements - Accrual basis \begin{tabular}{l} Income Statements - Accrual basis \\ \hline Revenues \\ Expenses: \\ Salaries \\ Advertising \\ Utilities \\ Rent \\ Net income (loss) \end{tabular}