These partially completed Income Statement columns from a 10-column work sheet are for Browns Bike Rental Company.

Account Title	Debit		Credit
Rent earned			138,000
Salaries expense	61,272
Insurance expense	8,694
Office supplies expense	20,286
Bike repair expense	4,278
Depreciation expenseBikes	26,358

(1) Use the information to 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.