EX 4-17 Closing entries with net income OBJ. 3 Creative Images Co. offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at July 31, the end of the fiscal year, the following balances were taken from the ledger of Creative Images Co.: Violet Lozano, Capital $934,500 Violet Lozano, Drawing 66,000 Rent Expense Supplies Expense $52,900 17,200 Fees Earned 545,000 Miscellaneous Expense 5,400 Wages Expense 342,400 Journalize the two entries required to close the accounts.