The Gorman Groun The Gorman Group End-of-Period Spreadsheet For the Year Ended October 31, 20 Y9 \begin{tabular}{|c|c|c|} \hline Account Title & \begin{tabular}{c} Adjusted \\ Trial Balance \\ Dr. \end{tabular} & \begin{tabular}{c} Adjusted \\ Trial Balance \\ Cr. \end{tabular} \\ \hline Cash & 12,380 & \\ \hline Accounts Receivable & 26,940 & \\ \hline Supplies & 4,210 & \\ \hline Prepaid Insurance & 9,090 & \\ \hline Land & 96,000 & \\ \hline Buildings & 344,000 & \\ \hline Accumulated Depreciation-Buildings & & 112,200 \\ \hline Equipment & 249,000 & \\ \hline Accumulated Depreciation-Equipment & & 146,100 \\ \hline Accounts Payable & & 31,870 \\ \hline Salaries Payable & & 3,160 \\ \hline Unearned Rent & & 1,430 \\ \hline Nicole Gorman, Capital & & 409,030 \\ \hline Nicole Gorman, Drawing & 23,900 & \\ \hline Service Fees & & 454,470 \\ \hline Rent Revenue & & 4,800 \\ \hline Salaries Expense & 325,810 & \\ \hline Depreciation Expense-Equipment & 17,700 & \\ \hline \end{tabular} Total liabilities and owner's equity 2. Journaize the entries that were required to close the sccounts at October 31 . If an amount box does not require an entry, leave it, blank. 3. If the balance of Nicole Gorman, Capital had instead increased \$33,500 after the dosing entries were posted, and the owner \& withdrawals remained the same, what would have been the amount of Net income or Net loss? Enter all amounts as positive numbers. Salaries Expense Depredation Expense-Equipment Rent Expense Supplies Expense vtilities Expense Depreciation Expense-Buildings Repairs Expense Insurance Expense Miscellaneous Expense 325,810 17,700 14,800 10,480 9,470 6,320 5,220 2,860 \begin{tabular}{rr} 4,880 & \\ \hline 1,163,060 & 1,163,060 \\ \hline \end{tabular} Required: 1. Prepare an income statement. The Gorman Group Income Statement For the Year Ended October 31, 20 Y9 Revenues: Total revenues Expenses