20 points eBook Hint Print References The following information is available for two different types of businesses for the Year 1 accounting year. Hopkins CPAS is a service business that provides accounting services to small businesses. Sports Clothing is a merchandising business that sells sports clothing to college students. Data for Hopkins CPAS 1. Borrowed $101,700 from the bank to start the business. 2. Provided $67,800 of services to clients and collected $56,500 cash. 3. Paid salary expense of $36,160. Data for Sports Clothing 1. Borrowed $101,700 from the bank to start the business. 2. Purchased $67,800 inventory for cash. 3. Inventory costing $29,380 was sold for $56,500 cash. 4. Paid $9,040 cash for operating expenses. Required: a. Prepare an income statement, balance sheet, and statement of cash flows for each of the companies. Complete this question by entering your answers in the tabs below. Hopkins Inc Hopkins Bal Stmt Sheet Hopkins Cash Sports Inc Flows Stmt Stmt Prepare an income statement for Hopkins CPAS. HOPKINS CPAS Income Statement For the Year Ended December 31, Year 1 $ Sports Bal Sheet Sports Cash Flows Stmt

Complete this question by entering your answers in the tabs below. Prepare a balance sheet for 5 ports Cothing. Complete this question by entering your answers in the tabs below. Prepare a statement of cash flows for sports Clothing Note: Cash outfows should be indicated with a minus sign. a. Prepare an income statement, balance sheet and statement of cash flows for each of the companies. Complete this question by entering your answers in the tats below. Prepare a statement of cash nows for Hopkins CPAS. Note: Cish outhlows should be indi frted with a miniss sign. 3. Irvertiary costing $29,380 was sold for $56,500 cash 4. Paid 59040 cash for operating expenses. Pequired: a. Prepare an income stapement, balance sheet, and subement of cash flowi tor each of fine companes Complete this guestion by entering your anserers in the tabs below; The following information is available for two different types of businesses for the Yeat 1 accounting year. Hopkins CPAs is a service business that provides occounting services to small bursinesses. Sports Clothing is a merchandising business that sells sports ciothing to college students Data for Hopkins CPAs 1. Borrowed $101,700 from the bank to start the business 2. Provided $67,800 of services to elients and collected $56,500 cash. 3. Paid selary expense of $36,160 Data for Sperts Clothing 1. Borrowed $101,700 from the bank to start the business. 2. Purchased $67,800 inventory for cash. 3. Inventory costing $29,380 was sold for $56,500 cash 4. Paid $9,040 cash for operating expenses Required: a. Prepare an income statement, balance sheet, and statementipt cash fiows for each of the companes. Complete this question by entering your answers in the tabs below. Prepare an income statement for thopkins CPMs. 3. Raid salary expense of $30,500 Data for Sports Clothing 1. Borrowed $101700 from the bank to start the business 2. Purchased $67,800 imwentory for cash. 3. Imventory costing $29,380 was sold for $56,500 cash. 4. Paid $9.040 cash for operating expenses. Requiled: a. Prepate an income statement, bolance sheet, and statement of cash flows for each of the companies Complete this question by entering your answers in the tabs below. Prepare an income statement for 5 ports Clothing