The following data pertains to Lam Co.'s manufacturing operations: Inventories4/1 4/30 Direct Materials$20,750 $17,200 Work in Process 10,100 6,825 Finished Goods 30,850 41,500 Additional information for the month of April: Direct materials purchased$36,400 Direct labor 35,500 Direct labor rate per hour 10 Factor overhead incurred 46,600 Overhead is applied at $12 per direct labor hour. For the month of April, prime cost incurred was:

Listed below are several transactions that took place during the first two years of operations for the law firm of pete, pete, and roy.year 1 year 2amounts billed to clients for services rendered $ 170,000 $ 220,000 cash collected from clients 160,000 190,000 cash disbursements salaries paid to employees for services rendered during the year 90,000 100,000 utilities 30,000 40,000 purchase of insurance policy 60,000 0 in addition, you learn that the company incurred utility costs of $35,000 in year 1, that there were no liabilities at the end of year 2, no anticipated bad debts on receivables, and that the insurance policy covers a three-year period.required: 1. & 3. calculate the net operating cash flow for years 1 and 2 and determine the amount of receivables from clients that the company would show in its year 1 and year 2 balance sheets prepared according to the accrual accounting model.2. prepare an income statement for each year according to the accrual accounting model.