On January 1,Year 1,Mayer Corporation Signed a Contract to Perform $\quad$

On January 1,Year 1,Mayer Corporation signed a contract to perform $25,000 worth of services for Phips Company over the next three years.Which of the following indicates the effects of this event on the Year 1 income statement and statement of cash flows of Mayer Corporation?
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Cash Flows
Net Income $\quad$$\quad$ Operating $\quad$$\quad$ Investing $\quad$$\quad$$\quad$$\quad$ Financing

A)
B)
C)
D)