3 - Record closing entries using the following excerpts from My Co's adjusted trial balance. Assume My Co uses an income summary account. Accounts Payable 350 Prepaid Rent 70 Accounts Receivable 210 Rent Expense 140 Advertising Expense 70 Retained Earnings 420 Cash 105 Service Revenue 770 Common Stock 140 Unearned Revenue 280 Dividends 140 Wage Expense 350 Note Payable 245 Wages Payable 70 Dr. Cr. Date Account 31-Dec (Closing Entries) A) How much was net income for the period? B) How much did retained earnings change over the period