3- Record closing entries using the following excerpts from My Co's adjusted trial balance. Assume My Co uses an income summary account. Accounts Payable 60 Prepaid Rent 105 Accounts Receivable 75 Rent Expense 240 Cash 30 Retained Earnings 270 Common Stock 120 Service Revenue 930 Depreciation Expense 45 Unearned Revenue 75 Dividends 30 Wage Expense 270 Equipment 270 Wages Payable 60 Dr. Cr. Date Account 31-Dec (Closing Entries) A) How much was net income for the period? B) How much did retained earnings change over the period