Required information Use the following information for Quick Studies below. [The following information applies to the questions displayed below.) The following is the adjusted trial balance of Sierra Company Account Title Cash Prepaid insurance Notes receivable (due in 5 years) Buildings Accumulated depreciation-Buildings Accounts payable Notes payable (due in 3 years) H. Sierra, Capital H. Sierra, Withdrawals Consulting revenue Wages expense Depreciation expense-Buildings Insurance expense Totals Debit Credit $ 43,000 2,400 7,800 115,000 $ 31,000 12,000 12,500 39,000 10,500 104,500 5,400 11,500 3,400 $199,000 $199,000 Inese income statement columns rom a 10-column work sneet are for Brown S Bike Rental company Debit Credit 131,000 Account Title Rent earned Salaries expense Insurance expense Office supplies expense Bike repair expense Depreciation expense-Bikes 58,164 8,253 19,257 4,061 25,021 (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. inese income statement columns trom a nu-column worksheet ate or towns bike rent company Debit Credit 131,000 Account Title Rent earned Salaries expense Insurance expense office supplies expense Bike repair expense Depreciation expense-bikes 58,164 1.25 19,257 4,061 25,021 (1) Determine the amount that should be entered on the net income line of the worksheet (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