Please solve question 2 and 3 ...

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2- The trial balance of Nike's Sports Wear Shop at December 31 shows CLOSING ENTRIES Merchandise Inventory $25,000, Sales $162,400, Sales Returns and Allowances $4,800, Sales Discounts $3,600, Cost of Goods Sold $110,000, Rental Revenue $6,000, Freight-out $1,800, Rent Expense $8,800, and Salaries and Wages Expense $22,000. Instruction: Prepare the closing entries for the above accounts. 3- Presented below is financial information for two different companies. Mazoon Company Name Majaan Sales $90,000 Sales returns (a) Net sales 84,000 Cost of goods sold 56,000 Gross profit (b) Operating expenses 15,000 Net income (c) Instruction: Determine the missing amounts (d) $ 5,000 100,000 (e) 41,500 (0) 15,000 Business Administration Program Final Assessment Semester Spring 2021 Page 2