Financial accounting

Answer all questions please

FindersInvestigative Services

is an investigative services firm that is owned and operated by Stacy Tanner. On June 30, 2019, the end of the fiscal year

, the accountant for Finders Investigative Services prepared an end-of-period spreadsheet, a part of which follows:

Finders Investigative Services

End-of-Period Spreadsheet

For the Year Ended June 30, 2019

~ Adjusted Trial Balance

Account Title ~ Dr. Cr.

~

Cash ~ 23,600

Accounts Receivable ~ 68,400

Supplies ~ 4,500

Prepaid Insurance ~ 2,500

Building ~ 432,000

Accumulated Depreciation-Building ~ 44,200

Accounts Payable ~ 11,100

Salaries Payable ~ 3,300

Unearned Rent ~ 1,700

Stacy Tanner, Capital ~ 372,400

Stacy Tanner, Drawing ~ 11,400

Service Fees ~ 703,750

Rent Revenue ~ 11,400

Salaries Expense ~ 522,100

Rent Expense ~ 45,600

Supplies Expense ~ 10,800

Depreciation Expense-Building ~ 9,000

Utilities Expense ~ 7,150

Repairs Expense ~ 2,700

Insurance Expense ~ 2,500

Miscellaneous Expense ~ 5,600

~ 1,147,850 1,147,850

Required:

1. Prepare an income statement, a statement of owner’s equity (no additional investments were made during the year), and a balance sheet.*

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

3. If Stacy Tanner, Capital has instead decreased $30,000 after the closing entries were posted, and the withdrawals remained the same, what would have been the amount of net income or net loss?

*Be sure to read the instructions for each financial statement carefully. Refer to the chart of accounts and the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries.