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 Clothing is a merchandising business that sells sports clothing to college students. Data for Hopkins CPAs Borrowed $38,000 from the bank to start the business. Provided $40,000 of services to clients and collected $40,000 cash. Paid salary expense of $25,600. Data for Sports Clothing Borrowed $38,000