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Foxy Investigative Services is an investigative services firm that is owned and operated by Shirley Vickers. On November 30, 20Y8, the end of the fiscal

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Foxy Investigative Services is an investigative services firm that is owned and operated by Shirley Vickers. On November 30, 20Y8, 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, 20Y8 Adjusted Trial Balance Dr. Cr. Account Title 27,500 Cash 71,800 Accounts Receivable 3,550 Supplies 750 Prenaid Insurance Building 330,500 Accumulated Depreciation-Building 184,100 Accounts Payable 16,100 6,600 Salaries Payable 1,500 Unearned Rent 40,000 Common Stock 70,300 Retained Earnings 30,000 Dividends 675,500 Service Fees 9,000 Rent Revenue 435,000 Salaries Expense 55,000 Rent Expense 11,850 Supplies Expense Depreciation Expense-Building 10,000 Utilities Expense 8,800 Repairs Expense 4,250 Insurance Expense 3,000 11,100 Miscellaneous Expense 1,003,100 1,003,100 Required: 1. A. Prepare an income statement for the year ended November 30, 20Y8. 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. Refer to the Chart of Accounts for exact wording of account titles B. Prepare a statement of stockholders' equity for the year ended November 30, 20Y8. 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. 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. C. Prepare a balance sheet as of November 30, 20Y8. 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 minus sign. numbers use 2. Based upon the end-of-period spreadsheet, journalize the closing entries. Refer to the Chart of Accounts for exact wording of account titles. 3. If Retained Earnings had instead decreased $46,000 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

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