Financial Statements and Closing Entries The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As of October 31, 2018, the end of the fiscal year, the accountant for The Gorman Group prepared an end-of-period spreadsheet, part of which follows: Account Title The Gorman Group End-of-Period Spreadsheet For the Year Ended October 31, 2018 Adjusted Trial Balance Cr. Dr. Cash $13,410 Accounts Receivable 29,180 Supplies 4,560 Prepaid Insurance 9,850 Land 104,000 Buildings 373,000 Accumulated Depreciation-Buildings 121,500 Equipment 269,000 Accumulated Depreciation-Equipment 158,200 Accounts Payable 34,520 3,420 Salaries Payable 1,550 Unearned Rent Common Stock Retained Earnings Dividends 25,900 155,000 287,950 Previous Next> Submit Test for Grad Prepare a Retained Earnings Statement. The Gorman Group Retained Earnings Statement For the Year Ended October 31, 2018 G S $ Prepare a balance sheet. Assets Current assets: Tatal ant secate The Gorman Group Balance Sheet October 31, 2018 Liabilities Current liabilities: Total liabilities Prepare a balance sheet. Assets Current assets: The Gorman Group Balance Sheet October 31, 2018 Liabilities Current liabilities: Total current assets Property, plant, and equipment: Total liabilities Stockholders' Equity ilities and stockholders' equity 2. Journalize the entries that were required to close the accounts at October 31. For a compound transaction, if a box does not require an entry, leave it blank. Date 2018 Oct. 31 Close revenues Oct. 31 Close expenses Account Debit Credit B < Oct. 31 Close income/loss Oct. 31 Close dividends 3. If Retained Earnings had instead decreased $36,300 after the closing entries were posted, and the dividends remained th same, what would have been the amount of net income or net loss? Enter all amounts as positive numbers