Financial Statements and Closing Entries The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As of October 31 , 20Y3, the end of the fiscal year, the accountant for The Gorman Group prepared an end-of-period spreadsheet, part of which follows: \begin{tabular}{lrr} Salaries Payable & & 3,810 \\ Unearned Rent & & 1,730 \\ Nicole Gorman, Capital & & 493,300 \\ Nicole Gorman, Drawing & 28,900 & \\ Service Fees & & 548,390 \\ Rent Revenue & & 5,790 \\ Salaries Expense & 393,140 & \\ Depreciation Expense-Equipment & 21,300 & \\ Rent Expense & 17,900 & \\ Supplies Expense & 12,650 & \\ Utilities Expense & 11,430 & \\ Depreciation Expense-Buildings & 7,620 & \\ Repairs Expense & 6,300 & \\ Insurance Expense & 3,450 & \\ Miscellaneous Expense & 5,890 & \\ \cline { 3 - 4 } & 1,403,080 & 1,403,080 \\ \hline \hline \end{tabular} Required: 1. Prepare an income statement. Prepare a statement of owner's equity (no additional investments were made during the year). Prepare a balance sheet. 2. Journalize the entries that were required to close the accounts at October 31 . If an amount box does not require an entry, leave it blank. net loss