The items that follow appeared in the Income Statement columns of the work sheet prepared for the sweet shopped at year end. 

The items that follow appeared in the Income Statement columns of the work sheet prepared for The Sweet Shoppe at year-end. Also, the owner's withdrawal account was debited for $15,000 during the year ended December 31. Prepare closing journal entries for the business. Revenue from services Office salaries expense Rent expense Insurance expense Office supplies expense Amortization expense, office equipment Net income Income Statement $107,000 $25,000 12,500 1,900 1000 3.400 $43,800 $107,000 63.200 $107,000 $107,000