Pholmes Clesning Service begsh operation on Jonusty 1, Yest 1. The compamy experienced the foliowitig evenss for its fist year of opersonon: Events Affecting Yeer 1: 1. Provided $170.000 of clesning services on account 2. Colected $127,500 cach from accounts recensble. 3. Poid sothes of 534.000 for the yeor 4. A.djusted the sccounts to teflect msnsgement's expectstons that uricolectble sccounts enpense woud be Sr.200. The expense thas determined using the percent of revenue method. Reculted: a. Drganize the tonsaction dota in accounts under an accounting equation. b. PTepsee an income statement, a balance shest, and a stapement of cash ficis for Yoar 1 Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare a balance sheet for Year 1. Note: Amounts to be deducted should be indicated with a minus sign