Financial Statements and closing Entries The German Group is a financial planning wervices from owned and operated by Micole Gorman. As of October 31, 2070, the end of the fracal year, the accountant for The Commons Group prepared an end of period wreadsheet, part of which follow The Gorman Group End of Period Spreadsheet For the Year Ended October 31, 2019 Adjusted Trial Balance Account Title Dr. Cr. Cash $10,700 Accounts Receivable 36,350 Supplies 5,650 Prepaid Insurance 12,270 Land 129,000 Buildings 465,000 Accumulated Depreciation Buildings 153,300 Equipment 336.000 Accumulated Depreciation Equipment 197.100 Accounts Payable 43.000 Sales Payable 4,260 Uneaed.se 1,930 Common stock Retained Caming 359,450 Dividends 32,300 199.000 Pred Dan A... YouTube The Physics Cla DOBU 12,270 129,000 465,000 151,300 336,000 suppies Prepaid Insurance Land Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Unearned Rent Common Stock Retained Earnings Dividends Service Fees Rent Revenue Salaries Expense Depreciation Expense-Equipment Rent Expense Supplies Expense Utilities Expense Depreciation Expense-Buildings Repairs Expense Insurance Expense Miscellaneous Expense 197,100 43,000 4,260 1,930 193,000 359,480 32,300 613,160 6,480 439,580 23,900 20,000 14,140 12,780 8,520 7,040 3,860 6,590 1,569,710 1,569,710 1. Prepare an income statement. The Gorman Group Income Statement For the Year Ended October 31, 2019 Revenues: Total revenues Expenses: Total expenses Prepare a statement of stockholders' equity. During the year, no additional Common stock was issued. If an amount box does not require an entry leave blanket loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign The Gorman Group Statement of Stockholders' Equity For the Year Ended October 31, 2019 Common stock Retained earnings Total Prepare a balance sheet The German Group Balance Sheet October 31, 2017 Liwbies Current liabi Assets Current assets Property, plant, and equipment Stockholders' Equity Total property, plant, and equipment Total wees Total habits and stockholdet 2. Journalize the entries that were to dose the accounts at October 31. If an amount box does not require an entry leave it bank Date ALE Debit 2019 oct. 31 Credit Previous All work ved La instructor Sb Test for Grading 209 PM 2. Soumalize the entries that were required to dose the accounts at October 31. mount box does not require an entry, leave it bank Date Account Debit Credit 2010 Oct. 31 2019 Oct 31 3. If the balance of Retained earnings had instead increased 545,200 after the doing entries were posted, and the dividends remained the whow been the amount of Net Income or Netloss? Entall amounts as positive numbers