The following information is from the Income Statement of Ayayai's Halloween Pop-up Rental Shop for the year ending October 31, 2022 $7,600 Service Revenue Expenses Salaries and Wages expense Rent Expense Depreciation Expense Miscellaneous Expense Total expenses Net Income $2.880 1.792 2,604 366 7,642 $-42 This is Ayayai's first year in business. Ayayal's distributed dividends of $3,000 during the period. Prepare closing entries at December 31, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts.) No. Account Titles and Explanation Debit Credit 1. 2. Debit Credit No. Account Titles and Explanation 1 2. 4