Holmes Cleaning Service began operation on January 1, Year 1. The company experienced the following events for its first year of operations: Events Affecting Year 1: Provided $140,000 of cleaning services on account. Collected $105,000 cash from accounts receivable. Paid salaries of $40,000 for the year. Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $2,100. The expense was determined using the percent of revenue method. Required: Organize the transaction data in accounts under an accounting equation. Prepare an income statement, a balance sheet, and a statement of cash flows for Year 1.

Data: So 101; X= 114; 1+r= 1.12. The two possibilities for sr are 143 and 85.

10078+0987=

Santoyo Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below: Wait time Process time Inspection time Move time Queue time The delivery cycle time was: (Round your intermediate calculations to 1 decimal place.) Multiple Choice 4.5 hours 10.7 hours 23.5 hours Hours 12.8 1.9 0.3 4.5 6.2 25.7 hours