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:

Finders Investigative Services
End-of-Period Spreadsheet
For the Year Ended June 30, 2016
	~	Adjusted Trial Balance
Account Title	~	Dr.	Cr.
	~
Cash	~	28,000.00
Accounts Receivable	~	69,600.00
Supplies	~	4,600.00
Prepaid Insurance	~	2,500.00
Building	~	439,500.00
Accumulated Depreciation-Building	~		44,200.00
Accounts Payable	~		11,700.00
Salaries Payable	~		3,000.00
Unearned Rent	~		2,000.00
Stacy Tanner, Capital	~		373,800.00
Stacy Tanner, Drawing	~	12,000.00
Service Fees	~		718,000.00
Rent Revenue	~		12,000.00
Salaries Expense	~	522,100.00
Rent Expense	~	48,000.00
Supplies Expense	~	10,800.00
Depreciation Expense-Building	~	8,750.00
Utilities Expense	~	7,150.00
Repairs Expense	~	3,000.00
Insurance Expense	~	2,500.00
Miscellaneous Expense	~	6,200.00
	~	1,164,700.00	1,164,700.00

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.