T-accounts for JCB Industries, Inc., are shown below and on the following page.

Required:
1. Analyze these accounts and detail the appropriate journal entries that must have been made by JCB Industries, Inc. (Omit explanations.)
2. Determine the amount of net income/loss from the accountinformation.

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Cash Accounts Receivable Inventory Building a) 140,000 b) 70,000 (C) 60,000 (d)8,000 e) 35,000(f) 18,000 i) 22,000g) 63,000 h) 35,000 (e) 35,000) 22,000 (d) 43,000 (e) 25,000 (b) 210,000 Accounts Payable Mortgage Payable Notes Payable Capital Stock h) 35,000 (d) 35,000 b) 140,000 g) 60,000 c) 60,000 (a) 140,000 Sales Revenue Cost of Goods Sold Interest Expense Wages Expense e) 70,000 (e) 25,000 (g) 3,000 () 18,000