Do I drop the y and add ies for a possessive noun?
No, a possessive noun is formed by adding an -'s (or just an -' to the end of plural nouns already ending in -s) to the existing singular or plural noun; for example:singular=apple, singular possessive=apple's; plural=apples, plural possessive= apples'singular=boy, singular possessive=boy's; plural=boys, plural possessive=boys'singular=car, singular possessive=car's; plural=cars, plural possessive=cars'The nouns that drop the -y and add -ies is to form the plural are nouns ending in -y preceded by a consonant; for example:singular=ally; plural=allies (singular possessive=ally's; plural possessive=allies')singular=baby; plural=babies (singular possessive=baby's; plural possessive=babies')singular=city; plural=cities(singular possessive=city's; plural possessive=cities')