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Prepare a balance sheet. The Gorman Group Balance Sheet October 31, 20Y9 Assets Current assets: Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Liabilities Required: 1. Prepare an income statement. 3. If the balance of Nicole Gorman, Copitai had instead increased $49,800 after the closing entries were posted, and the owner's withdrawais remained the same, what would fave been the amount of Net income or Niet foss? fnter alf amounts as positive numbers. The Gorman Group Statement of Owner's Equity For the Year Ended October 31, 20 Y9 Prepare a balance sheet. The Gorman Group Balance sheet October 31, 20rg Assets Current asstes: Total current assets Property, plant, and equipment: Financlal statements and closing entries The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As of October 31, 20r9, the end of the fiscal year, the accountant for The. Gorman Group prepared an end-of-period spreadsheet, part of which follows: I amount box does not require an entry, leave it biank. If a Net loss is incurred or Nicole Gorman, Drawing were paid, enter that amount as a negative number using a minus sign. Liabilities Current liabilities: Total llabilities Owner's Equity Total labilities and owner's equity 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. Prepare a balance sheet. The Gorman Group Balance Sheet October 31, 20Y9 Assets Current assets: Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Liabilities Required: 1. Prepare an income statement. 3. If the balance of Nicole Gorman, Copitai had instead increased $49,800 after the closing entries were posted, and the owner's withdrawais remained the same, what would fave been the amount of Net income or Niet foss? fnter alf amounts as positive numbers. The Gorman Group Statement of Owner's Equity For the Year Ended October 31, 20 Y9 Prepare a balance sheet. The Gorman Group Balance sheet October 31, 20rg Assets Current asstes: Total current assets Property, plant, and equipment: Financlal statements and closing entries The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As of October 31, 20r9, the end of the fiscal year, the accountant for The. Gorman Group prepared an end-of-period spreadsheet, part of which follows: I amount box does not require an entry, leave it biank. If a Net loss is incurred or Nicole Gorman, Drawing were paid, enter that amount as a negative number using a minus sign. Liabilities Current liabilities: Total llabilities Owner's Equity Total labilities and owner's equity 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

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