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Financial Statements and Closing Entries The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As of October 31,2019 , the end of the fiscal veas, the accnuatant for The Gorman Group prepared an end-of-period spreadsheet, part of which follows: 4 mere Check My Work uses romaning 1. Prepare an income statement. Print Item 1. Prepare an income statement. Checki My Work 4 more Chock My Work uods remaining: Ali work eaved. N/ilrn/takeAssignment/takeAssignmentMain.do?invoker=\&takeAssignmentSessionLocator=\&inpi (3) Prepare a statement of owner's equity (no additional investments were made during the year). Prepare a balance sheet. Current assets: Current liabilities: Total liabilities Total current assets Property, plant, and equipment: Owner's Equity Total property, plant, and equipment Total assets Total liabilities and owner's equity Chock My Work 4 more Check My Work uses remaining. Previous: Next All work saved. cove and Exit Submir Assigament for er 2. Journalize the entries that were required to close the accounts at October 31 . For a compound transaction, if an ambunt box does not requirn an entry, leans if blank. 3. If the balance of Nicole Gorman, Capital had instead increased $115,000 after the closing entries were posted and the withdrawals remained the same, what would have been the amount of net income or net loss? Financial Statements and Closing Entries The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As of October 31,2019 , the end of the fiscal veas, the accnuatant for The Gorman Group prepared an end-of-period spreadsheet, part of which follows: 4 mere Check My Work uses romaning 1. Prepare an income statement. Print Item 1. Prepare an income statement. Checki My Work 4 more Chock My Work uods remaining: Ali work eaved. N/ilrn/takeAssignment/takeAssignmentMain.do?invoker=\&takeAssignmentSessionLocator=\&inpi (3) Prepare a statement of owner's equity (no additional investments were made during the year). Prepare a balance sheet. Current assets: Current liabilities: Total liabilities Total current assets Property, plant, and equipment: Owner's Equity Total property, plant, and equipment Total assets Total liabilities and owner's equity Chock My Work 4 more Check My Work uses remaining. Previous: Next All work saved. cove and Exit Submir Assigament for er 2. Journalize the entries that were required to close the accounts at October 31 . For a compound transaction, if an ambunt box does not requirn an entry, leans if blank. 3. If the balance of Nicole Gorman, Capital had instead increased $115,000 after the closing entries were posted and the withdrawals remained the same, what would have been the amount of net income or net loss
