Phoebe Company ended its fiscal year on June $30,2022.$ Its Trial Balance is presented here.Phoebe CompanyAdjusted Trial BalanceFor the Month Ended June $30,2022$DebitCreditCash$8,900$Accounts Receivable$9,400$Equipment$16,000$Accumulated Depreciation$7,300$Accounts Payable$4,800$Unearned Rent$2,300$Owner's Capital$46,600$Owner's Drawing$16,100$Service Revenue$63,700$Rent Revenue$6,000$Depreciation Expense$8,700$Salaries and Wages Expense$56,500$Utilities Expense$15,100$$$130,700$$ $130,700$Prepare closing entries at June $30,2022.$What is the amount of net income?Compute the balance in the Owner's Capital account