At the end of its first year of operation, Sunland Company has $$1,210,000$ of common stock and net income of $$240,000.$

$($a$)$

Prepare the closing entry for net income. $($Credit account titles are automatically indented when amount is entered. Do not indent:

manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts.$)$

Account Titles and Explanation

Credit

eTextbook and Media

List of Accounts

Using multiple attempts will impact your score.

$10\%$ score reduction after attempt $3$

$($b$)$