Foxy Investigative Services is an investigative services firm that is owned and operated by Shirley Vickers. On November 30, 2018, 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, 2018
	~	Adjusted Trial Balance
Account Title	~	Dr.	Cr.
	~
Cash	~	28,000
Accounts Receivable	~	70,000
Supplies	~	4,600
Prepaid Insurance	~	2,500
Building	~	434,000
Accumulated Depreciation-Building	~		41,400
Accounts Payable	~		11,600
Salaries Payable	~		3,000
Unearned Rent	~		1,800
Common Stock	~		80,000
Retained Earnings	~		294,400
Dividends	~	11,900
Service Fees	~		716,650
Rent Revenue	~		11,900
Salaries Expense	~	523,900
Rent Expense	~	47,600
Supplies Expense	~	10,800
Depreciation Expense-Building	~	9,000
Utilities Expense	~	7,250
Repairs Expense	~	2,800
Insurance Expense	~	2,800
Miscellaneous Expense	~	5,600
	~	1,160,750	1,160,750

Foxy Investigative Services Income Statement (Label) 1 (Label) 2 3 4 5 (Label) 6 7 8 9 10 11 12 13 14 15 Retained Earnings Statement 18. Prepare a retained earnings statement for the year ended November 30, 2018. If a net loss is incurred or dividends were paid, 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. Refer to the Chart of Accounts for exact wording of account titles. Refer to the lists of Labels and Amount Descriptions for exact wording of the answer choices for text entries other than account names. Foxy Investigative Services Retained Earnings Statement (Label) 1 5 Balance Sheet 1C. Prepare a balance sheet as of November 30, 2018 Fixed assets must be entered in order according to account number. Be sure to complete the statement heading. You will not need to enter colons (:) or the word "Less" on the balance sheet; they will automatically insert where necessary. Refer to the Chart of Accounts for exact wording of account titles. Refer to the lists of Labels and Amount Descriptions for exact wording of the answer choices for text entries other than account names. For those boxes in which you must enter subtracted or negative numbers use minus sign Foxy Investigative Services Balance Sheet (Label) 1 Assets 2 (Label) 3 5 7 8 (Label) 9 10 11 12 13 Liabilities 14 (Label) 15 16 17 18 19 Stockholders' Equity 20 21 22 23 Journal PAGE 11 JOURNAL ACCOUNTING EQUATION DATE POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY DESCRIPTION Closing Entries 2 3 4 5 6 7 10 11 12 13 14 15 16 17 Final Question 3. If Retained Earnings had instead decreased $31,000 after the closing entries were posted, and the dividends remained the same, what would have been the amount of net income or net loss? If required, use a minus sign to indicate a net loss