Adjusted Trial Balance Account Title Dr. Cr. $16,290 35,460 5,540 11,970 126,000 453,000 147,600 Cash Accounts Receivable Supplies Prepaid Insurance Land Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Unearned Rent Common Stock Retained Earnings Dividends Service Fees 327,000 192,200 41,940 4,160 1,880 188,000 349,800 31,500 598,040 6,320 Rent Revenue Salaries Expense Depreciation Expense-Equipment Rent Expense Supplies Expense Utilities Expense Depreciation Expense-Buildings 428,740 23,300 19,500 13,790 12,470 8,310 Repairs Expense Insurance Expense Miscellaneous Expense 6,870 3,770 6,430 1,529,940 1,529,940 Required: 1. Prepare an income statement. The Gorman Group Income Statement For the Year Ended October 31, 2019 Revenues: Total revenues Expenses: The Gorman Group Income Statement For the Year Ended October 31, 2019 Revenues: $ Total revenues Expenses: $ Total expenses The Gorman Group Statement of Stockholders' Equity For the Year Ended October 31, 2049 Common stock Retained earnings Total bara CE SITEEL October 31, 2019 Assets Liabilities Current assets: Current liabilities: Total liabilities Total current assets Property, plant, and equipment: Stockholders' Equity Total property, plant, and equipment Total stockholders' equity Total assets Total liabilities and stockholders' equity October 31, 2049 Liabilities Current liabilities: Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity 2. Journalize the entries that were required to close the accounts at October 31. If an amount box does not require an entry, leave it b Date Account Debit Credit 2079 Oct. 31 2019 Oct. 31 3. If the balance of 3. If the balance of Retained earnings had instead increased $44,000 after the closing entries were posted, and the dividends remained the same, what would have been the amount of Net income or Net loss? Enter all amounts as positive numbers