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(Solved): The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As of O ...




The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As of October 31 , 20Y9, the end
Required:
1. Prepare an income statement.
The Gorman Group
Income Statement
For the Year Ended October 31, 20Y9
Revenues:
Ins
Prepare a statement of stockholders equity. During the year, no additional Common stock was issued. If an amount b as a nega
The Gorman Group
Balance Sheet
October 31, \( 20 \mathrm{Y9} \)
Assets
Current assets:
Total current assets
Property, plant,
Liabilities
Current liabilities:
Total llabilities
Stockholders Equity
Total stockholders equity
Total liabilities and stoc
pecinve mumoer.
The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As of October 31 , 20Y9, the end of the fiscal year, the accountant for The Gorman Group prepared an end-of-period spreadsheet, part of which follows: Required: 1. Prepare an income statement. The Gorman Group Income Statement For the Year Ended October 31, 20Y9 Revenues: Insurance expense Total revenues Expenses: Total expenses Prepare a statement of stockholders' equity. During the year, no additional Common stock was issued. If an amount b as a negative number using a minus ?ign. Prepare a balance sheet. The Gorman Group Balance Sheet October 31, Assets Current assets: Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Liabilities Current liabilities: Total llabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity pecinve mumoer.


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1. Preparing The Income Statement -The Gorman GroupIncome StatementFor The Year Ended October 31, 2019Revenues : Service Revenue$532,190 Rent Revenue$
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