Foxy Investigative Services is an investigative services firm that is owned and operated by Shirley Vickers. On November $30,20$Y$8,$ the end of the fiscal year, the accountant for Foxy Investigative Services prepared an end$-$of$-$period spreadsheet, a part of which follows:

Foxy Investigative Services

End$-$of$-$Period Spreadsheet

For the Year Ended November $30,20$Y$8$

~ Adjusted Trial Balance

Account Title ~ Dr$.$ Cr$.$

~

Cash ~ $25,000$

Accounts Receivable ~ $68,400$

Supplies ~ $4,400$

Prepaid Insurance ~ $2,500$

Building ~ $437,000$

Accumulated Depreciation$-$Building ~ $42,400$

Accounts Payable ~ $11,400$

Salaries Payable ~ $3,800$

Unearned Rent ~ $2,500$

Shirley Vickers, Capital ~ $373,600$

Shirley Vickers, Drawing ~ $11,700$

Service Fees ~ $712,850$

Rent Revenue ~ $11,700$

Salaries Expense ~ $524,000$

Rent Expense ~ $46,800$

Supplies Expense ~ $10,300$

Depreciation Expense$-$Building ~ $8,400$

Utilities Expense ~ $7,950$

Repairs Expense ~ $3,500$

Insurance Expense ~ $2,500$

Miscellaneous Expense ~ $5,800$

~ $1,158,2501,158,250$

Required:

$1.$ A$.$ Prepare an income statement for the year ended November $30,20$Y$8.$

B$.$ Prepare a statement of owner's equity for the year ended November $30,20$Y$8.$

C$.$ Prepare a balance sheet as of November $30,20$Y$8.$

$2.$ Journalize the entries that were required to close the accounts at November $30,20$Y$8.$

$3.$ If Shirley Vickers, capital had instead decreased $$36,000$ after the closing entries were posted, and the owner withdrawals remained the same, what would have been the amount of net income or net loss?

Chart of Accounts

CHART OF ACCOUNTS

Foxy Investigative Services

General Ledger

ASSETS

$11$ Cash

$12$ Accounts Receivable

$13$ Supplies

$14$ Prepaid Insurance

$17$ Building

$18$ Accumulated Depreciation$-$Building

LIABILITIES

$21$ Accounts Payable

$22$ Salaries Payable

$23$ Unearned Rent

EQUITY

$31$ Shirley Vickers, Capital

$33$ Shirley Vickers, Drawing

REVENUE

$41$ Service Fees

$42$ Rent Revenue

EXPENSES

$51$ Salaries Expense

$52$ Rent Expense

$53$ Supplies Expense

$54$ Depreciation Expense$-$Building

$55$ Utilities Expense

$56$ Repairs Expense

$57$ Insurance Expense

$59$ Miscellaneous Expense

Labels and Amount Descriptions

Labels

Current assets

Current liabilities

Expenses

For the Year Ended November $30,20$Y$8$

November $30,20$Y$8$

Property, plant, and equipment

Revenues

Amount Descriptions

Net income

Net loss

Total assets

Shirley Vickers, capital, December $1,20$Y$7$

Shirley Vickers, capital, November $30,20$Y$8$

Total current assets

Total expenses

Total liabilities

Total liabilities and owner's equity

Total property, plant, and equipment

Total revenues

Withdrawals

General Journal

$2.$ Journalize the entries that were required to close the accounts at November $30,20$Y$8.$

General Journal Instructions

Please use what$$s in the chart of accounts and labels. $$Retained earnings$$ and $$income summary$$ are not on those charts. Also, I need $14$ to cover my closing journal. I$$ve done everything else