Financial Statements and Closing Entries Info-Mart Company is a financial planning services firm owned and operated by Tom Wagner. As of October 31, 2014, the end of the current fiscal year, the accountant for Info-Mart Company prepared an end-of-period spreadsheet, part of which is shown below. Info-Mart Company End-of-Period Spreadsheet October 31, 2014 Adjusted Trial Balance Adjusted Trial Balance Account Title Dr. Cr. Account Title Dr. Cr. Cash $16,910 Tom Wagner, Capital $558,800 Accounts Receivable 36,800 Tom Wagner, Drawing 32,700 Supplies 5,750 Service Fees 620,710 Prepaid Insurance 12,420 Rent Revenue 6,560 Land 131,000 Salaries Expense 444,990 Buildings 470,000 Depreciation Expense-Equipment 24,200 Accumulated Depreciation-Buildings 153,200 Rent Expense 20,200 Equipment 340,000 Supplies Expense 14,320 Accumulated Depreciation-Equipment 199,500 Utilities Expense 12,940 Accounts Payable 43,530 Depreciation Expense-Buildings 8,630 Salaries Payable 4,310 Repairs Expense 7,130 Unearned Rent 1,960 Insurance Expense 3,910 Miscellaneous Expense 6,670

Required: 1. Prepare an income statement. Info-Mart Company Income Statement For the Year Ended October 31, 2014 Revenues: Select Select Total revenues Expenses: Select Select Select Select Select Select Select Select Total expenses Net income