The following information is available for two different types of businesses for the Year 1 accounting year. Hopkins CPAs is a service business that provides accounting services to small businesses. Sports Clothir is a merchandising business that sells sports clothing to college students. Data for Hopkins CPAs 1. Borrowed $93,600 from the bank to start the business. 2. Provided $62,400 of services to clients and collected $52,000 cash. 3. Paid salary expense of $33,280. Data for Sports Clothing 1. Borrowed $93,600 from the bank to start the business. 2. Purchased $62,400 inventory for cash. 3. Inventory costing $27,040 was sold for $52,000 cash. 4. Paid $8,320 cash for operating expenses. Required a. Prepare an income statement, balance sheet, and statement of cash flows for each of the companies. Complete this question by entering your answers in the tabs below. Prepare an income statement for Hopkins CPAs