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 $105,300 from the bank to start the business. 2. Provided $70,200 of services to clients and collected $58,500 cash. 3. Paid salary expense of $37,440. Data for Sports Clothing 1. Borrowed $105,300 from the bank to start the business. 2. Purchased $70,200 inventory for cash. 3. Inventory costing $30,420 was sold for $58,500 cash. 4. Paid $9,360 cash for operating expenses. Required a. Prepare an income statement, balance sheet, and statement of cash flows for each of the companies.