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 ServicesEnd$-$of$-$Period SpreadsheetFor the Year Ended November $30,20$Y$8$~Adjusted Trial BalanceAccount Title~Dr$.$Cr$.$~Cash~$23,000$Accounts Receivable~$71,800$Supplies~$4,500$Prepaid Insurance~$2,500$Building~$444,000$Accumulated Depreciation$-$Building~$44,600$Accounts Payable~$11,200$Salaries Payable~$2,900$Unearned Rent~$1,500$Shirley Vickers, Capital~$373,200$Shirley Vickers, Drawing~$11,500$Service Fees~$719,450$Rent Revenue~$11,500$Salaries Expense~$525,000$Rent Expense~$46,000$Supplies Expense~$10,500$Depreciation Expense$-$Building~$7,400$Utilities Expense~$7,350$Repairs Expense~$2,500$Insurance Expense~$2,300$Miscellaneous Expense~$6,000$~$1,164,3501,164,350$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$8\mathrm{.}2.$Journalize the entries that were required to close the accounts at November $30,20$Y$8\mathrm{.}3.$If Shirley Vickers, capital had instead decreased $$40,000$ 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?