George is a manager at InnoBLAST Inc., a web-based applications company. In an attempt to promote new ideas, George decides to allow his engineering team to devote 15 percent of their work time to whatever projects they would like to work on and reduces their assigned workload. He then institutes a 30-minute period each morning where the team members are asked to look over their current project list for the day and develop more knowledge about a task before they move on to work on their assigned tasks.
The time period set aside each morning primarily helps promote stages of the creative process.

A preparation and illumination
B incubation and verification
C illumination and verification
D verification and preparation
F preparation and incubation

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.