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 $103,500 from the bank to start the business. 2. Provided $69,000 of services to clients and collected $57,500 cash. 3. Paid salary expense of $36,800. Data for Sports Clothing 1. Borrowed $103,500 from the bank to start the business. 2. Purchased $69,000 inventory for cash. 3. Inventory costing $29,900 was sold for $57,500 cash. 4. Paid $9,200 cash for operating expenses. Required Complete this question by entering your answers in the tabs below. Prepare an income statement for Hopkins CPAs 
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