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 $37,000 from the bank to start the business. Provided $41,000 of services to clients and collected $41,000 cash. Paid salary expense of $26,200. Data for Sports Clothing Borrowed $37,000 from the bank to start the business. Purchased $30,000 inventory for cash. Inventory costing $25,200 was sold for $45,000 cash. Paid $3,600 cash for operating expenses. Required: a. Prepare an income statement, balance sheet, and statement of cash flows for each of the companies.