< 1. Prepare an income statement. Revenues: Total revenues Expenses: The Gorman Group Income Statement For the Year Ended October 31, 20Y9 69 Total expenses ||| O K Financial statements and closing entries The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As of October 31, 20Y9, the end of the fiscal year, the accountant for The Gorman Group prepared an end-of-period spreadsheet, part of which follows: The Gorman Group End-of-Period Spreadsheet For the Year Ended October 31, 20Y9 Adjusted Trial Balance Account Title Cash Dr. Adjusted Trial Balance Cr. 12,170 Accounts Receivable 26,500 Supplies 4,140 Prepaid Insurance 8,940 Land 94,000 Buildings 339,000 Accumulated Depreciation-Buildings 110,300 Equipment 245,000 Accumulated Depreciation-Equipment 143,700 Accounts Payable 31,340 Salaries Payable 3,110 Check My Work 3 more Check My Work uses remaining. Next