Holmes Cleaning Service began operation on January 1, 2016. The company experienced the following events for its first year of operations:

Events Affecting 2016:

1.	Provided $140,000 of cleaning services on account.
2.	Collected $105,000 cash from accounts receivable.
3.	Paid salaries of $24,000 for the year.
4.	Adjusted the accounts to reflect managements expectations that uncollectible accounts expense would be $1,400. The expense was determined using the percent of revenue method.

Prepare an income statement, balance sheet, and statement of cash flows for 2016.