Brief Exercise 4-14 (Part Level Submission) The income statement for Regina Cleaning Services Ltd. for the year ended November 30 shows Service Revenue $129,900; Salaries Expense $82,800; Repairs and Maintenance Expense $15,800; Supplies Expense $6,400; Utilities Expense $2,900; and Income Tax Expense $5,900. The statement of changes in equity shows an opening balance for Retained Earnings of $50,300 and Dividends Declared $10,700. (a) Your answer is correct. Calculate the net income or loss for the year. Net Income / loss 16100 Using T accounts, post the closing entries, and determine the ending balances. (CE means closing entry.) (PO Service Revenue |Nov 30 Bal. 129,900 Nov 30 CE1" 129900 flow 30 bal. Nov 30 Bal. r 12900 129900 Salaries Expense 82,800 Nov 30 Bal. || Nov 30 CE2 r 82800 Nov 30 Bal. 82800 Supplies Expense 6.400 Nov 30 Bal. Nov 30 CE2 6400 DDDDDD Nov 30 Bal. 6400 Utilities Expense 2,900 Nov 30 Bal. || Nov 30 CE2 r 2900 Nov 30 Bal. , 2900 Repairs and Maintenance Expense Repairs and Maintenance Expense 15,800 Nov 30 Bal. x T Nov 30 CE2 15800 Nov 30 Bal. 15800 Income Tax Expense 5,900 Nov 30 Bal. Nov 30 CE2 5900 Nov 30 Bal. 5900 Dividends Declared 10,700 Nov 30 Bal. Nov 30 CE2 10700 Nov 30 Bal. 10700 Income Summary Nov 30 CE3 129900 Nov 30 CE3 -113800 Nov 30 Bal. 16100 Retained Earnings Retained Earnings Nov 1 50,300 x2 Nov 30 CE4 10700 Nov 30 Bal. 61000