Ohare Companys only asset as of January 1 2010 was a limousine. During 2010 only

Ohare Companys only asset as of January 1 2010 was a limousine. During 2010 only the following three transactions occurred.Services of $100000 were provided on accountAll accounts receivable were collected.Depreciation on the limousine was $15000.Required:1. Develop an income statement for Ohare for 2010.2. Determine the amount of the net inflow for Ohare for 2010.3. Explain why Ohares net income does not equal net cash inflow.4. If Ohare developed a cash flow statement for 2010 using the indirect method what amount would appear in the category titled Cash Flow from Operating Activities?