Required information [The following information applies to the questions displayed below.] 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 $190,000 of cleaning services on account. 2. Collected $142,500 cash from accounts receivable. 3. Paid salaries of $38,000 for the year. 4. Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $2,100. The expense was determined using the percent of revenue method. . Prepare an income statement, balance sheet, and statement of cash flows for Year 1. Complete this question by entering your answers in the tabs below. Req C1 Req C2 Req C3 Prepare an income statement for Year 1. HOLMES CLEANING SERVICE Income Statement For the Year Ended December 31, Year 1 Required information [The following information applies to the questions displayed below.] 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 $190,000 of cleaning services on account. 2. Collected $142,500 cash from accounts receivable. 3. Paid salaries of $38,000 for the year. 4. Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $2,100. The expense was determined using the percent of revenue method. . Post the general journal entries to T-accounts. Cash Service Revenue Beginning balance Beginning balance 0 2. 142,500 38,000 3. 190,000 1. 190,000 Ending balance 104,500 Ending balance Accounts Receivable Salaries Expense Beginning balance 1. Beginning balance 0 190,000 142,500 2. 3. 38,000 47,500 38,000 Ending balance Ending balance Beginning balance Allowance for Doubtful Accounts Uncollectible Accounts Expense Beginning balance 0 4. 2,100 2,100 4. Ending balance 2,100 Ending balance 2,100