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The Gorman Group End-of-Period Spreadsheet For the Year Ended October 31, 2019 Adjusted Trial Balance Account Title Dr. Cr. Cash $11,730 Accounts Receivable 25,540 Supplies 3,990 Prepaid Insurance 8,620 Land 91,000 Buildings 326,000 Accumulated Depreciation-Buildings 106,300 Equipment 236,000 Accumulated Depreciation Equipment 138,500 Accounts Payable 30,200 Salaries Payable 2,990 Unearned Rent 1,360 Common Stock 136,000 Retained Earnings 251,750 Dividends 22,700 Service Fees 430,720 Rent Revenue 4,550 Salaries Expense 308,790 16,800 Depreciation Expense-Equipment Dont Gyroneo OTS:Assign... 4,550 Rent Revenue Salaries Expense Depreciation Expense-Equipment Rent Expense Supplies Expense Utilities Expense Depreciation Expense-Buildings Repairs Expense Insurance Expense Miscellaneous Expense 308,790 16,800 14,000 9,940 8,980 5,990 4,950 2,710 4,630 1,102,370 1,102,370 Required: N 1. Prepare an income statement. The Gorman Group Income Statement For the Year Ended October 31, 2019 Revenues: Total revenues Expenses: 1. Prepare an income statement. The Gorman Group Income Statement For the Year Ended October 31, 2019 Revenues: Total revenues s Expenses: $ value calculator Transtutor Assign Other bookmarks Total expenses Prepare a statement of stockholders' equity. During the year, no additional Common stock was issued. If an amount box does not require an entry, leave it blank. If a Netloss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. The Gorman Group Statement of Stockholders' Equity For the Year Ended Ocber 31, 2019 Common stock Retained earnings Total The Gorman G Balance She Prepare a balance sheet. Prepare a balance sheet. The GO Bala Octob Assets Current assets: Total current assets Property, plant, and equipment: Previous Ne October 31, 2019 Other bookmarks Liabilities Current liabilities: Total liabilities Stockholders' Equity Total stockholders' equity Takashi 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 blank. Date Account Debit Credit 2019 Oct. 31 2019 Oct. 31 Previous Next 3. If the balance of Retained earnings had instead increased $31,700 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