The following information is from the Income Statement of Happy's Halloween Pop-up Rental Shop for the year ending October 31, 2022: $9,500 Service Revenue Expenses Salaries and Wages Expense Rent Expense Depreciation Expense Miscellaneous Expense Total Expenses Net Income $3,000 1,400 2,100 300 6,800 $2.700 This is Happy's first year in business. Happy's distributed dividends of $2,500 during the period. Prepare closing entries at December 31, 2022