These partially completed Income Statement columns from a 10-column work sheet are for Brown's Bike Rental Company. Debit Credit 120,000 Account Title Rent earned Salaries expense Insurance expense Office supplies expense Bike repair expense Depreciation expense-Bikes 53,280 7,560 17,640 3,720 22,920 (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. View transaction list Journal entry worksheet