The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As prepared an end-of-period spreadsheet, part of which follows: The Gorman Group End-of-Period Spreadsheet For the Year Ended October 31, 20Y3 Adjusted Trial Balance Dr. Cr. Account Title 17,400 37,890 5,920 12,790 135,000 484,000 Cash Accounts Receivable Supplies Prepaid Insurance Land Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Unearned Rent Nicole German Pantal 157,700 350,000 205,400 44,810 4,440 2,010 575.160 4,440 2,010 575,460 33,600 639,060 6,750 Salaries Payable Unearned Rent Nicole Gorman, Capital Nicole Gorman, Drawing Service Fees Rent Revenue Salaries Expense Depreciation Expense--Equipment Rent Expense Supplies Expense Utilities Expense Depreciation Expense--Buildings > Repairs Expense Insurance Expense Miscellaneous Expense 458,150 24,900 20,800 14,740 13,320 8,880 7,340 4,030 6,870 1,635,630 1,635,630 Required: 1. Prepare an income statement. Gorman Group Income Statement For the Year Ended October 31, 20Y3 Income Statement For the Year Ended October 31, 20Y3 Revenues Service fees 639,060 Rent revenue 6,750 Total revenues 645,810 Expenses: Salaries expense Equipment Nicole Gorman, capital Accumulated depreciation buildings Total expenses Net income Gorman Group Statement of Owner's Equity For the Year Ended October 31, 20Y3 Nicole Gorman capital November 1, 2012 575,460 Nchincome for the year Withdrawal Increase in owner's equity Nicole German capital. October 31. 2093 Gorman Group Balance Sheet October 31, 2013 Current assets abities Cash Current abilities Accounts payable Accounts Subolies 5 ans Une rent Total liables Yotal current Property, blant and equipment: Owners Equity Land Accumulated catering La derection met Tool property, plant and comment Date Account Debit Credit Oct. 31 Service Fees 639,060 Rent Revenue 6,750 Salaries Expense 458,150 Depreciation Expense-Equipment 24,900 Rent Expense 20,800 Supplies Expense 14,740 Utilities Expense 13,320 Depreciation Expense-Buildings 8,880 Repairs Expense 7,340 Insurance Expense 4,030 Miscellaneous Expense 6,870 Nicole Gorman, Capital Oct. 31 Nicole Gorman, Capital 33,600 Nicole Gorman, Drawing 33,600 33,600 3. If the balance of Nicole Goeman Capital had instead increased: 5115,000 after the closing entries were posted and the withdrawals remained the same, what would have been the amount of income ornet loss