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: The Gorman Group End-of-Period Spreadsheet For the Year Ended October 31, 2018 Account Ac Race See Adjusted Trial Balance Dr. CA $16,200 35,260 5.50 11.900 125.000 451,000 146,800 325.000 191.200 41,710 Buning Am Bertion Buildings Foun Acad Depreciation Equipment Act name Carmen San Redings Diens 1.870 187,000 348.660 31.300 594.100 6,280 Rent Revue Deprecation Expense-bougiment Rent to Spee 426,420 23.100 19.400 13,720 12,400 3.270 5.30 Do pense-Guidings Expense 50 1.522.450 Required: 1. Prepare an income statement. The Gorman Group Income Statement For the Year Ended October 31, 2018 es Total Expenses Prepare a Retained Earnings Statement. The Gorman Group Retained Earnings Statement For the Year Ended October 31, 2018 The Gorman Group Balance Sheet October 31, 2018 Assets Liabilities Current Totale Portada Stockholders' Equity Ten To odhad Tend 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. Credit Account Debit Date 3011 Oct 31 Ceres Out. Cepen Oct 31 Clow 3. If Retained Earnings had instead decreased $43,800 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