The Gorman Group is a financial planning services formed and operated by Nicole Gormans of October 2013 the end of the final year, the accountant for The Corman Group prepared and opened spreadshest part of which allows The Gorman Group End-of-Period Spreadsheet For the Year Ended October 31, 2013 Adjusted Trial Balance Account Title Dr. Cr Cash 17.400 Accounts Recevable 17.00 Supplies -5.920 Prepaid Insurance 12.790 Land 115.000 Buildings 150.000 Accumulated Depreciation Buildings 157.100 Equipment 150,000 Accumulated Dorciation-imant 205,400 accounts Payable 100 Uneaedah 2010 Nicole German Capital ce Corman Orang 11600 PE Next 33,600 639,060 6,750 458,150 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 24.900 20,800 14,740 13,320 3,880 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, 2013 Revenues For the Year Ended October 31, 20Y3 Revenues: Total revenues Expenses: Total expenses Net income vestments were made during the year) Gorman Group Statement of Owner's Equity For the Year Ended October 31, 2013 Prepare a balance sheet. Gorman Group Balance Sheet October 31, 2013 Current assets Lab Current abilities SP 31. Paramount box does not require an entrance Date Account Debit Credit Oct 31 Oct 31 If the balance of Nicole Gorman, Capital had instead increased 115,000 after the doning entries were posted and the withdrawals remained the same, what would he been the amount of net income or not loss? Previous Next >