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 Browns Bike Rental Company.

Account Title	Debit	Credit
Rental revenue		129,000
Salaries expense	57,276
Insurance expense	8,127
Supplies expense	18,963
Bike repair expense	3,999
Depreciation expenseBikes	24,639

(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.