The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As of October 31,20Y9, the end of the fiscal year, the accountant for The Gorman Group prepared an end-of-period spreadsheet, part of which follows: 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 160,000297,450 26,700 507,3705,360 363,730 19,70016,50011,70010,580 7,050 5,830 3,200 5,4501,299,1901,299,190 Required: 1. Prepare an income statement. The Gorman Group Income Statement For the Year Ended October 31, 20 Y9 Revenues: Total revenues 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 it blank. If a Net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Liabilities Current liabilities: Total liabilities Stockholders' Equity Total stockholders' equity Total Eiabilities and stockholders' equity 2. Journalize the entries that were required to close the accounts at October 31 . If an amount box does not require an entry, leave it blank 3. If the balance of Retained earnings had instead increased $37,400 after the closing entries were posted, and the dividends remained the same, what would have been the amount of Net income or Net loss? Enter all amounts as positive numbers