Please help me with this question The following informotion is avoilable for two different types of businesses for the Yeor 1 accounting year. Hopkins CPAS is a servicebuainess that provides occunting serviceg to smol busineases. Sports Clothing is a merchondising business that sells sports clothingto college students.Data for Hopdns CPAS1 Borrowed $90,000 from the bonk to stort the business.2 Provided $60,000 of services to dients ond collected $50,000 cash.3. Paid salary expense of $32000.Data for Sports Clothing1 Borrowed $90,000 from the bank to stort the business.2 Purchased $60,000 inventory for cash.3. Inventory costing $26,000 was sold for $50,000 cash.4 Paid $8,000 cash for operoting expenses.Requireda Prepore on income statement, balance sheet, and statement of cash flows for each of the companies.Complete this question by entering your answers in the tabs below.Hopkins BalSheetHopidins CashFlows StmtSports BalSheetSports CashFlows StmtHopidins IncSports IncStmtStmtPrepare an income statement for Hopkins CPAS.HOPKINS CPASIncome StatementFor the Year Ended December 31. Year 1RevenueExpensesHopkins Elel SheetNext The fallowing nformation to available far two different types of bustnesoes far the Yeor 1 accounting yenr Hoplda CPAa ba servicebuzinees that provides accournting oervces to small businesoes. Sports Clothing le a merchandisng bueinesa thatselb aporta clothingto college students.Duta for Hopkins PAsL Borrowed $90,000 fram the bank to start the bustnesa.2 Provided SE0,000 af services to chents and collected $50,D00 cash.3. Pald sabry expense of $32,D00.Duta for Sparts ClothingL Borrawed $90.000 fram the bank to start the businesa.2 Purchased $60,000 Inventory for cach3. Inverntory costing $26,000 was sold for $50,000 cash.4 Pald $8,00 cach for operating expenses.Requireda Prepore on lIncome statement, balance sheet, and statement of cach flows for each of the companiesComplete this question by entering your answers in the tabs below.Hopkina Sal Hepkina Ca aSheetSporta SalSheetSperta CeahHowa SmtHopkina IncSporta IncHowa SmtPrepare a ba ance sheet for Hopicins CPAS.HOPKIN B CPASBalanoe theetAs of December 31, Year 1AssetsTota ESsetsLlabesToc cblesadookiholders equityTotal stockhioiders equRYToral abilitles end scocknoldersequitHegldns Casi Fkows Stint>( Hoplir ne Stnt

Income Statement and balance sheet are the financial statements of the business. Income statement is…

The following informotion is avoilable for two different types of businesses for the Yeor 1 accounting year. Hopkins CPAS is a service business that provides occounting serviceg to smoll busineases. Sports Clothing is a merchandising business that sells sports dothing to college students. Data for Hopldns CPAS 1 Borrowed $90,000 from the bank to start the business. 2 Provided $60,000 of services to dients ond collected $500,000 cash. 3. Paid salary expense of $32,000. Data for Sports Clothing 1 Borrowed $90.000 from the bank to stort the business. 2 Purchased $60,000 inventory for cash. 3. Inventory costing $26,000 was sold for $50,000 cash. 4 Poid $8,000 cosh for operating expenses. Required a Prepore on income statement, balance sheet, and statement of cash flows for each of the companies. Complete this question by entering your answers in the tabs below. Sports Bal Sports Cash Hopicins Cash Flows Stmt Hopkins Bal Sports Inc Hopikins Inc Stmt Sheet Flows Stmt Stmt Sheet Prepare an income statement for Hopkins CPAS. HOPKINS CPAS income statement For the Year Ended December 31, Year 1 Revenue Expenses