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 $84,000 of cleaning services on account. 2. Collected $76,000 cash from accounts receivable. 3. Paid salaries of $28,500 for the year. 4. Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $1,650. 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 B1 Req B2 Req B3 Prepare a statement of cash flows for Year 1. (Amounts to be deducted should be indicated with a minus sign.) HOLMES CLEANING SERVICE Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities Inflow from customers $ 76,000 Outflow for expenses (28,500 47.500 Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Net change in cash 47,500 Ending cash balance 47,500