$!$

Required Information

$[$The following information applles to the questions displayed below.$]$

Jeanle's Homes Housekeeping Co$.$ began operations on January $1,$ Year $1.$ The company experienced the following events for its first year of operations.

Events Affecting Year $1$:

Provided $$160,000$ of cleaning services on account.

Collected $$120,000$ cash from accounts recelvable.

Paid salarles of $$44,000$ for the year.

Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $$1,500.$ The expense was determined using the percent of revenue method.

c$.$ Prepare an income statement, balance sheet, and statement of cash flows for Year $1.$

Complete this question by entering your answers in the tabs below.

ASq $C1$ Req $C2$ Req $C3$

Prepare an income statement for Year $1.$

$\backslash$table$[[$HOLMES CLEANING SERVICE$],[$Income Statement$],[$For the Year Ended December $31,$ Year $1],[,,],[$Operating expenses$],[,,],[,,],[$Total operating expenses,,$0],[$$$,0]]$