The following information is from the Income Statement of Culver's Halloween Pop-up Rental Shop for the year ending October 31, 2022 $8,740 Service Revenue Expenses Salaries and Wages expense Rent Expense Depreciation Expense Miscellaneous Expense Total expenses Net Income $3,120 1.204 2,604 330 7.258 $1,482 This is Culver's first year in business. Culver's distributed dividends of $2.250 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 1. Debit Credit 2 This is Culver's first year in business. Culver's distributed dividends of $2,250 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 I 1 2. 3. 4