Prepare Closing Entries for December from the Following Income Statement

Prepare closing entries for December from the following Income Statement columns of the work sheet of Custom Cleaning Service,Inc.,assuming that a $500 dividend was paid during the period (omit explanations).

$\begin{array} { | l | r | r | } \hline & { \text { Income Statement } } \\\hline & { \text { Debit } } &{ \text { Credit } } \\\hline \text { Cleaning Revenue } & & 2,600 \\\hline \text { Wages Expense } & 1,200 & \\\hline \text { Rent Expense } & 400 & \\\hline \text { Supplies Expense } & 300 & \\\hline \text { Income Taxes Expense } & 40 & \\\hline & 1,940 & 2,600 \\\text { Net Income } & 660 & \\\hline & 2,600 & 2,600 \\\hline\end{array}$