English (United States) Question Three: The income statement of Hall Marine Repairs is as follows: HALL MARINE REPAIRS Income Statement For the Month Ended October 31, 2020 Revenue Service Revenue Expenses Salaries and Wages Expense Supplies Expens... 8,500 .3,900 .1,050 Insurance Expense. .600 Utilities Expense... .400 Depreciation Expense.. 350 Total Expenses 6,300 Income tax expenses (200) Net Income 2.000 On Octoberl, the retained earnings account (Beginning) had a balance of 12,900. During October, the company paid 3,900 in dividends. Instructions: 1. Prepare closing entries at October 31. 10