Finders Investigative Services is an investigative services firm that

is owned and operated by Stacy Tanner. On June 30, 2019, the end of

the fiscal year, the accountant for Finders Investigative Services

prepared an end-of-period spreadsheet, a part of which follows:

Finders Investigative Services

End-of-Period Spreadsheet

For the Year Ended June 30, 2019

~

Adjusted Trial Balance

Account Title ~ Dr. Cr.

~

Cash ~ 28,000

Accounts Receivable ~ 69,600

Supplies ~ 4,600

Prepaid Insurance ~ 2,500

Building ~ 439,500

Accumulated Depreciation-Building ~ 44,200

Accounts Payable ~ 11,700

Salaries Payable ~ 3,000

Unearned Rent ~ 2,000

Stacy Tanner, Capital ~ 373,800

Stacy Tanner, Drawing ~ 12,000

Service Fees ~ 718,000

Rent Revenue ~ 12,000

Salaries Expense ~ 522,100

Rent Expense ~ 48,000

Supplies Expense ~ 10,800

Depreciation Expense-Building ~ 8,750

Utilities Expense ~ 7,150

Repairs Expense ~ 3,000

Insurance Expense ~ 2,500

Miscellaneous Expense ~ 6,200

~ 1,164,700 1,164,700

Required:

1. Prepare an income statement, a statement of owners equity (no

additional investments were made during the year), and a balance

sheet. *

2. Journalize the entries that were required to close the accounts at June 30. *

3. If Stacy Tanner, Capital has instead decreased $30,000 after the

closing entries were posted, and the withdrawals remained the same,

what would have been the amount of net income or net loss?

* Be sure to read the instructions for each financial statement

carefully. Refer to the chart of accounts and the list of Labels and

Amount Descriptions provided for the exact wording of the answer

choices for text entries.