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Holmes Cleaning Service began operation on January 1, 2018. The company experienced the following events for its first year of operations: Events Affecting 2018: 1.

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Holmes Cleaning Service began operation on January 1, 2018. The company experienced the following events for its first year of operations: Events Affecting 2018: 1. Provided $140,000 of cleaning services on account 2. Collected $105,000 cash from accounts receivable. 3. Paid salaries of $30,000 for the year. 4. Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $1,200. The expense was determined using the percent of revenue method. Required a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement, a balance sheet, and a statement of cash flows for 2018

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