Financial Statements and Closing Entries

The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As of October $31,20$Y$9,$ 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 $31,20$ Y $9$

$\backslash$table$[[$Unearned Rent,,$1,900],[$Common Stock,,$190,000],[$Retained Earnings,,$353,680],[$Dividends$,31,800,],[$Service Fees,,$604,520],[$Rent Revenue,,$6,380],[$Salaries Expense,$433,380,],[$Depreciation Expense$-$Equipment,$23,500,],[$Rent Expense,$19,700,],[$Supplies Expen$$e$,13,940,],[$Utilities Expense,$12,600,],[$Depreciation Expense$-$Buildings,$8,400,],[$Repairs Expense,$6,940,],[$Insurance Expense,$3,810,],[$Miscellaneous Expense,$6,500,],[1,546,570,1,546,570$