Data for Hopkins CPAs Borrowed $34,000 from the bank to start the business. Provided $44,000 of services to clients and collected $44,000 cash. Paid salary expense of $28,200. Data for Sports Clothing Borrowed $34,000 from the bank to start the business. Purchased $33,000 inventory for cash. Inventory costing $27,700 was sold for $50,000 cash. Paid $4,000 cash for operating expenses. Required Prepare an income statement, balance sheet, and statement of cash flows for each of the companies.

HOPKINS CPAs
Balance Sheet
As of December 31, 2018
Assets
Cash
Total assets		$0
Liabilities
Notes payable
Total liabilities		0
Stockholders' equity
Retained earnings
Total stockholders' equity		0
Total liabilities and stockholders' equity		$0

HOPKINS CPAs
Statement of Cash Flows
For the Year Ended December 31, 2018
Cash flows from operating activities:
Net cash flow from operating activities		$0
Cash flows from investing activities
Cash flows from financing activities:
Net cash flow from financing activities		0
		0
Ending cash balance		$0

SPORTS CLOTHING
Income Statement
For the Year Ended December 31, 2018
	0
Expenses
	$0

SPORTS CLOTHING
Balance Sheet
As of December 31, 2018
Assets
Total assets		$0
Liabilities
Total liabilities		$0
Stockholders Equity
Total stockholders' equity		0
Total liabilities and stockholders' equity		$0

SPORTS CLOTHING
Statement of Cash Flows
For the Year Ended December 31, 2018
Cash flows from operating activities:
Net cash flow from operating activities		$0
Cash flows from investing activities
Cash flows from financing activities:
Net cash flow from financing activities		0
		0
Ending cash balance		$0