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 $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. c. Prepare an income statement balance sheet, and statement of cash flows for Year 1. 4 Complete this question by entering your answers in the tabs below. Reg C1 Reg C2 Reg C3 Prepare an income statement for Year 1. HOLMES CLEANING SERVICE Income Statement For the Year Ended December 31, Year 1 Service revenue Operating expenses Salaties expense $ 28,500 Uncollectible accounts expense 1650 Total operating expenses Net income 30.150 $ (30.150) Complete this question by entering your answers in the tabs below. Reg 01 Reg C2 Req C3 Prepare a balance sheet for Year 1. (Enter amounts to be deducted with a minus sign.) HOLMES CLEANING SERVICE Balance Sheet As of December 31, Year 1 Assets Accounts receivable Cash 0 $ Total assets Liabilities Stockholders' equity 0 Total stockholders' equity Total liabilities and stockholders' equity 0 Complete this question by entering your answers in the tabs below. Req G1 Req C2 Reg C3 Prepare an statement of cash flows for Year 1. (Enter cash outflows with a minus sign.) HOLMES CLEANING SERVICE Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flow from operating activities $ 0 Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Net change in cash Ending cash balance $