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1. prepare an income statement a return earnings statement and balance sheet

2. Journalize the entries that were required to close the accounts at November 30

PR 4-2A Financial statements and closing entries Obj. 2, 3 Foxy Investigative Services is an investigative services firm that is owned and operated by Shirley Vickers. On November 30, 2018, the end of the fiscal year, the accountant for Foxy Investigative Services prepared an end-of-period spreadsheet, a part of which follows: A F G 1 Foxy Investigative Services 2 End-of-Period Spreadsheet 3 For the Year Ended November 30, 2018 4 Adjusted 5 Trial Balance 6 Account Title Dr. Cr. 8 Cash 9 Accounts Receivable 10 Supplies 11 Prepaid Insurance 12 Building 13 Accumulated Depreciation--Building 14 Accounts Payable 15 Salaries Payable 16 Unearned Rent 2 12 27,500 71,800 3,550 750 330,500 184,100 16,100 6,600 1,500 0 Via De Tu nad G F 1 Foxy Investigative Services 2 End-of-Period Spreadsheet 3 For the Year Ended November 30, 2018 4 Adjusted 5 Trial Balance 6 Account Title Dr. Cr. 7 8 Cash 27,500 9 Accounts Receivable 71,800 10 Supplies 3,550 11 Prepaid Insurance 750 12 Building 330,500 13 Accumulated Depreciation-Building 184,100 14 Accounts Payable 16,100 15 Salaries Payable 6,600 16 Unearned Rent 1,500 17 Common Stock 40,000 18 Retained Earnings 70,300 19 Dividends 30,000 20 Service Fees 675,500 21 Rent Revenue 9,000 22 Salaries Expense 435,000 23 Rent Expense 55,000 24 Supplies Expense 11,850 25 Depreciation Expense-Building 10,000 26 Utilities Expense 8,800 27 Repairs Expense 4.250 28 Insurance Expense 3,000 29 Miscellaneous Expense 11,100 30 1,003,100 1,003,100 22 23 Rent Expense 24 Supplies Expense 25 Depreciation Expense-Building 26 Utilities Expense 27 Repairs Expense 28 Insurance Expense 29 Miscellaneous Expense 30 55,000 11.850 10.000 8,800 4,250 3,000 11 100 1,003,100 1,003,100 Instructions 1. Prepare an income statement, a retained earnings statement, and a balance sheet. 2. Journalize the entries that were required to close the accounts at November 30. I Datinad Parning had instead decreacod 044 000 after the closing entries were posted, 2 23 Rent Expense 24 Supplies Expense 25 Depreciation Expense-Building 26 Utilities Expense 27 Repairs Expense 28 Insurance Expense 29 Miscellaneous Expense 30 55,000 11,850 10,000 8,800 4,250 3,000 11.100 1,003,100 1,003,100 Instructions 1. Prepare an income statement, a retained earnings statement, and a balance sheet. 2. Journalize the entries that were required to close the accounts at November 30. 3. If Retained Earnings had instead decreased $46,000 after the closing entries were posted, and the dividends remained the same, what would have been the amount of net income or net loss

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