Explain the four steps of the closing process given the following:

View the May $31$ ending balance, before closing.

$\backslash$table$[[,$Balance to be closed,$\backslash$table$[[$Total amount$],[$to be closed$]],$Closed to this account,$\backslash$table$[[$May $31$ Ending$],[$Before Closing$]],,],[$Step $1$:$],[$Step $2$:$],[$Step $3$:$,,,,$Fees Earned,$$,1,400],[$Step $4$:$,,,,$Rent Expense,,$400],[,,,,$Advertising Expense,,$60],[,,,,$K$.$ Rogan, Capital,,$5,500],[,,,,$K$.$ Rogan, Withdrawals,,$75]]$