Required information

[The following information applies to the questions displayed below.] The following transactions apply to Hooper Co. for Year 1, its first year of operations:

1. Issued $130,000 of common stock for cash.
2. Provided $100,000 of services on account.
3. Collected $86,000 cash from accounts receivable.
4. Loaned $13,000 to Mosby Co. on November 30, Year 1. The note had a one-year term to maturity and a 10 percent interest rate.
5. Paid $38,000 of salaries expense for the year.
6. Paid a $4,000 dividend to the stockholders.
7. Recorded the accrued interest on December 31, Year 1 (see item 4).
8. Estimated that 1 percent of service revenue will be uncollectible.

b. Prepare the income statement, balance sheet, and statement of cash flows for Year 1. Complete this question by entering your answers in the tabs below. Req B Inc Stmt Reg B Bal Sheet Req B Stmt Cash Flows Prepare the income statement for Year 1. (Round intermediate calculations and final answers to nearest whole dollar amount.) HOOPER CO. Income Statement For the Year Ended December 31, Year 1 Operating expenses Total operating expenses 0 Non-Operating Items Complete this question by entering your answers in the tabs below. Req B Inc Stmt Reg B Bal Sheet Req B Stmt Cash Flows Prepare the balance sheet for Year 1. (Round intermediate calculations and final answers to HOOPER CO. Balance Sheet As of the End of the Year 1 Assets 0 Total assets 0 Liabilities Stockholders' equity 0 Total stockholders' equity Total liabilities and stockholders' equity $ 0 Req B Inc Req B Bal Sheet Stmt Req B Stmt Cash Flows Prepare the statement of cash flows for Year 1. (Amounts to be dedu HOOPER CO. Statement of Cash Flows For the Year Ended Year 1 Cash flows from operating activities $ 0 Net cash flow from operating activities Cash flows from investing activities $ 0 Net cash flows from investing activities Cash flows from financing activities $ 0 Net cash flows from financing activities Net change in cash 0