31) From the following items in the income statement columns of the worksheet of Monaghan Company at December 31, prepare the closing entries without explanation, assuming that a $450 withdrawal was made during the period. Debit Credit 900 Income Statement Account Service Revenue Wages Expense Rent Expense Supplies Expense Insurance Expense 550 250 100 50 950 Net Loss 900 50 $950 $950 32) A summary of selected ledger accounts appear below for S. Ball for the current calendar year. S. Ball, Capital 12/31 6,500 1/1 27,000 12/31 4,250 S. Ball, Withdrawals 3/31 2,000 10/31 3,00 12/31 6,500 12/22 1,500 Income Summary 12/31 12.750 12/31 17,000 12/31 4,250 I Answer the following questions. 1. What was the total amount of withdrawals? 2. What was the net income? 3. What was the total revenue? 4. What were the total expenses