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 $99,000 from the bank to start the business. Provided $66,000 of services to clients and collected $55,000 cash. Paid salary expense of $35,200. Data for Sports Clothing Borrowed $99,000 from the bank to start the business. Purchased $66,000 inventory for cash. Inventory costing $28,600 was sold for $55,000 cash. Paid $8,800 cash for operating expenses. Required Prepare an income statement, balance sheet, and statement of cash flows for each of the companies.