Question: C 5 Exercise 4-6 (Algo) Completing the income statement columns and preparing closing entries LO P1, P2 Following are Income Statement columns from a

C 5 Exercise 4-6 (Algo) Completing the income statement columns and preparingclosing entries LO P1, P2 Following are Income Statement columns from a10-column work sheet for Brown's Bike Rental Company 25 Account Title Debitpoints Rental revenue Credit 95,000 Salaries expense 42,100 Insurance expense Supplies expense

C 5 Exercise 4-6 (Algo) Completing the income statement columns and preparing closing entries LO P1, P2 Following are Income Statement columns from a 10-column work sheet for Brown's Bike Rental Company 25 Account Title Debit points Rental revenue Credit 95,000 Salaries expense 42,100 Insurance expense Supplies expense Book Bike repair expense Depreciation expense-Bikes Hint Print References 5,985 13,965 2,945 18,145 (1) Determine the amount that should be entered on the net income line of the work sheet (2) Prepare the company's closing entries. The owner, H. Brown, did not make any withdrawals this period Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the amount that should be entered on the net income line of the work sheet. Required 2 >

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