?Finders Investigative Services is an investigative services firm that is owned and operated by Stacy Tanner. On June 30, 2016, the end of the fiscal year, the accountant for Finders Investigative Services prepared an end-of-period spreadsheet, a part of which follows:

1. Prepare an income statement for the year ended June 30, 2016. If a net loss has been incurred, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons (:) on the income statement.

1. Prepare a statement of owners equity for the year ended June 30, 2016. No additional investments were made during the year. If a net loss has been incurred or there has been a decrease in owners equity, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items.

1. Prepare a balance sheet as of June 30, 2016. Fixed assets must be entered in order according to account number. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons (:) or the word "Less" on the balance sheet; they will automatically insert where necessary.

2. Based upon the end-of-period spreadsheet, journalize the closing entries. If you are unsure of account titles, see the chart of accounts.

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? If required, use the minus sign to indicate a net loss.

$

Finders Investigative Services End-of-Period Spreadsheet For the Year Ended June 30, 2016 -Adjusted Trial Balance Account Title 28,000.00 69,600.00 4,600.00 2,500.00 439,500.00 Accounts Receivable Prepaid Insurance 44,200.00 11,700.00 3,000.00 2,000.00 373,800.00 Accounts Payable Salaries Payable Unearned Rent Stacy Tanner, Capital Stacy Tanner, Drawing Service Fees Rent Revenue Salaries Expense Rent Expense Supplies Expense 12,000.00 718,000.00 12,000.00 -522,100.00 48,000.00 10,800.00