follows:

Instructions

Required:

$A.$ Prepare $an$ income statement for the year ended November $30,20Y8.$ Required:

$A.$ Prepare $an$ income statement for the year ended November $30,20Y8.$

$B.$ Prepare a statement $of$ owner's equity for the year ended November $30,20Y8.$

$C.$ Prepare a balance sheet $asof$ November $30,20Y8.$

Journalize the entries that were required $to$ close the accounts $at$ November $30,20Y8.$

$If$ Shirley Vickers, capital had instead decreased $$33,000$ after the closing entries were posted, and the owner withdrawals remained the same,

what would have been the amount $of$ net income $or$ net loss?