Below are excerpts from the work sheets of two businesses as at March 31, 2014. Those rows that calculate totals are at the bottom of the last two sets of columns.
Required
Do the following for each business:
1. Identify the net income or net loss for the year ended March 31, 2014.
2. Prepare the entry to close the Income Summary account to capital.
3. Calculate the post-closing balance in capital at March 31, 2014.
a.

b.