On December 31, 2021, Dyer Inc. completed its first year of operations. Dyer Inc. Income Statement, For the year ended April 30, 2021 Rental Revenue $ 114,000 Expenses: Salaries and Wages Expense Maintenance Expense Rent Expense Utilities Expense Gas and Oil Expense 28,500 12,000 9,000 4,000 3,000 Other Expenses 1,000 Total Expenses 57,500 Income $ 56,500 Required: Prepare the closing entries for this company. The company did not pay dividends in this year.