The asfonted that baince of Sipatca Ses Conpany tolows. Requirements Spatoli Sign Company Adjusted Trial Balance January 31,2024 \begin{tabular}{lrr} & \multicolumn{2}{c}{ Balance } \\ \hline Account Title & Debit & Credit \\ \hline Cash & 15,100 & \\ \hline Office Supplies & 1,100 & \\ \hline Prepaid Rent & 800 & \\ Equipment & 54,000 & \\ \hline Accumulated Depreciation-Equipment & $ & 5,600 \\ \hline Accounts Payable & & 4,900 \\ Salaries Payable & & 200 \\ Unearned Revenue & & 4,600 \\ \hline Notes Payable (long-term) & & 5,500 \\ Common Stock & & 41.000 \\ \hline \end{tabular} Requirements 1. Assume Spatoli Sign Company has a January 31 year-end Journalize Spatoli's closing entries at January 31 2. How much net income or net loss did Spatoli Sign Company earn for the year ended January 31 ? How can you tell? First, close revenues Requirement 2. How much net income or net loss did Spatoli Sign Company earn for the year ended January 31 ? How can you tell? Start by identifying the amount of net income or loss for the year ended January 31. (Enter a loss with a minus sign or parentheses.) Not income ( loss) = How can you tolt? We know this because exceeded by this amount and this was the balance in when it was closed \begin{tabular}{|c|c|c|c|} \hline \multicolumn{2}{|l|}{ Accumulated Depreciation-Equipment } & \multirow[t]{2}{*}{$} & 5,600 \\ \hline Accounts Payable & & & 4,900 \\ \hline Salaries Payable & & & 200 \\ \hline Unearned Revenue & & & 4,600 \\ \hline Notes Payable (long-term) & & & 5,500 \\ \hline Common Stock & & & 41,000 \\ \hline Dividends & & 1100 & \\ \hline Service Revenue & & & 17,700 \\ \hline Salaries Expense & & 4,800 & \\ \hline Rent Expense & & 1,300 & \\ \hline Depreciation Expense-Equipment & & 400 & \\ \hline Supplies Expense & & 500 & \\ \hline Utilities Expense & & 400 & \\ \hline Total IIIII & $ & 79,500S & 79,500 \\ \hline \end{tabular} Finally, close the Dividends account Next, close the expense accounts