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Instructions Finders Investigative 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. 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 Instructions Salaries Payable 3,300 Uneamed 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 45,600 Rent Expense Supplies Expense 10,800 9,000 Depreciation Expense-Building Utilities Expense 215 Repairs Expense 2,700 2,500 Insurance Expense 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 stor Labels and Amount Descrptions provided for the exact wording of the answer choices for text entries art of Accounts CHART OF ACCOUNTS Finders Investigative Services General Ledger ASSETS REVENUE 11 Cash 41 Service Fees 42 Rent Revenue 12 Accounts Receivable 13 Supplies EXPENSES 14 Prepaid Insurance 16 Building 17 Accumulated Depreciation-Building LIABILITIES 21 Accounts Payable 22 Salaries Payable 23 Unearned Rent 51 Salaries Expense 52 Rent Expense 53 Supplies Expense 54 Depreciation Expense-Building 55 Utilities Expense 56 Repairs Expense 57 Insurance Expense 59 Miscellaneous Expense EQUITY 31 Stacy Tanner, Capital 32 Stacy Tanner, Drawing 33 Income Summary Labels and Amount Descriptions Current assets Current liabilities Expenses For the Year Ended June 30, 2019 June 30, 2019 Property, plant, and equipment Revenues Amount Descriptions Decrease in owner's equity Increase in owner's equity Net Income Net loss Stacy Tanner, capital, July 1, 2018 Stacy Tanner, capital, June 30, 2019 Total assets Total current assets Total expenses Total liabilities Total liabilities and owner's equity Total property, plant, and equipment Total revenues Income Statement 1. Prepare an income statement for the year ended June 30, 2019. Na ner loss has been incurred, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Use the ist of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons() on the income statement. Finders Investigative Services Income Statement Label Label 1. Prepare a statement of owner's equity for the year ended June 30, 2019. No additional investments were made during the year. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items. Finders Investigative Services Statement of Owner's Equity Label) Balance Sheet 1. Prepare a balance sheet as of June 30, 2019. Fixed assets must be entered in order according to account number. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons() or the word Lesson the balance sheet, they will automaticaly insert where necessary Finders Investigative Services Balance Sheet Assets Liabilities 14 (Label) Owner's Equity Journal 2. Based upon the end-of-period spreadsheet, joumalize the closing entries. If you are unsure of account titles, see the chart of accounts. PAGE 1 JOURNAL ACCOUNTING EQUATION POST. REF DERIT CREDIT ASSETS LIABILITIES EQUN DESCRIPTION Closing Entries 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? Enter a net loss as a negative amount using a minus sign

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