Holmes Cleaning Service began operation on January 1, Year 1. The company experienced the following events for its first year of operations: Events Affecting Year 1: 1. Provided $170,000 of cleaning services on account. 2. Collected $127,500 cash from accounts receivable. 3. Paid salaries of $44,000 for the year. 4. Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $1,600. 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 Year 1. Complete this question by entering your answers in the tabs below. Req A Req 81 Req B2 Req 83 Organize the transaction data in accounts under an accounting equation. (Enter any decreases to account balances with a minus sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank. Not all cells will require entry.) HOLMES CLEANING SERVICE Horizontal Statements Model Balance Sheet Assets Equity Event Cash NRV Accounts Retained Earnings Receivable Year 1 1. 2. 127,500+ 170,000 (127,500) 3. (42,000)+ 4. + Bal 85,500+ 42,500 Accounts Titles for Retained Earnings Service revenue 2,200 Uncollectible accounts expense 2,200 Req A Req B1 >