Saved Help These partially completed Income Statement columns from a 10-column work sheet are for the Winston Sail'em Boat Rental Company for the year ended December 31, 2020. The owner's name is Carl Winston. Required: 1. Use the information to determine the amount that should be entered on the profit line of the work sheet. WINSTON SAIL'EM BOAT RENTAL COMPANY Income Statement (partial) For The Year Ended December 31, 2020 Debit Credit Rent revenue $ 103,200 Salaries expense $ 36,000 Insurance expenso 5,100 Dock rental expense 12,700 Boat supplies expense 6,920 Depreciation expense, boats 22,200 Totals Profit Totals 2. In addition, prepare closing entries for the company and the pre-closing balance of the withdrawals account is $18,700. View transaction ist X Da 510 Mimart Saved 2. In addition, prepare closing entries for the company and the pre-closing balance of the withdrawals account is $18,700. View transaction list x Record to close the revenue account. 2 Record to close the expense accounts. 3 Record to close Income summary. 4 Record to close the withdrawals account. Credit Note : - Journal entry has been entered Record entry Clear entry View general Journal