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The Gorman Group is a financiol planning services firm owned and operated tiy Nicole Gorman. As of October 31, 20r9, the end of the fiscal

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The Gorman Group is a financiol planning services firm owned and operated tiy Nicole Gorman. As of October 31, 20r9, the end of the fiscal yeac, the accountant for The Gon Group peepared an end-of-period spreadsheet, part of which follows: Supplies Prepaid Insurance Land Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Rent Common Stock incurred or dividends were paid, enter that amount as a negative number using a mainus sign. 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 batance of Retained eamings had instead increased $48,600 after the closing entries were posted, and the dividends remained the same, what would have been the anwount of Net income of Net loss? tnter all amounts as positive numbers

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