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 1. Borrowed $107,100 from the bank to start the business. 2. Provided $71,400 of services to clients and collected $59,500 cash. 3. Paid salary expense of $38,080. Data for Sports Clothing 1. Borrowed $107,100 from the bank to start the business. 2. Purchased $71,400 inventory for cash. 3. Inventory costing $30,940 was sold for $59,500 cash. 4. Paid $9,520 cash for operating expenses. Required a. Prepare an income statement, balance sheet, and statement of cash flows for each of the companies.