Explain the four steps of the closing process given the following: May 31 ending balance, before closing

Question:

Explain the four steps of the closing process given the following:
May 31 ending balance, before closing
Fees Earned ............................................ $ 200
Rent Expense .......................................... 350
Advertising Expense .................................. 60
T. Molanaro, Capital .................................. 3,000
T. Molanaro, Withdrawals ........................... 45