2. Prepare a statement of owner's equity (no additional investments were made during the year) 3.Prepare a balance sheet 4. If the balance of Tom Wagner capital increased $40,000 after the closing entries were posted and the withdrawals remain the same, what ws the amount of net income or net loss?

Account Title Cash Accounts Receivable Supplies Prepaid Insurance Land Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Unearned Rent Required: 1. Prepare an income statement Info-Mart company End-of-Period spreadsheet october 31, 2014 Adjusted Trial Balance Dr Cr Account Title $12,260 Tom Wagner, Capital Tom Wagner, Drawing 26,690 Service Fees 4,170 Rent Revenue 9,010 Salaries Expense 95,000 Depreciation Expense-Equipment 341,000 111,100 Rent Expense 246,000 Supplies Expense 144,700 Utilities Expense 31,570 Depreciation Expense-Buildings 3,130 Repairs Expense 1,420 Insurance Expense Miscellaneous Expense Adjusted Trial Balance Dr Cr $404,800 23,700 450,150 4,750 322,720 17,500 14,700 10,380 9,380 6,260 5,170 2,840 4,840