Given the following adjusted trial balance, record the appropriate closing entries. What is net income for theyear?

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Brett's Bait & Tackle, Inc. Adjusted Trial Balance June 30, 2011 Debit Credit Cash Accounts receivable Prepaid rent Supplies Equipment Accumulated depreciat Land Accounts payable Notes payable Interest payable Common stock Retained earnings Dividends Sales Cost of goods sold Depreciation expense Salary expense Totals Retained earnings at July 1, 2010. (No accounts have been closed.) $13,000 20,000 28,000 21,500 20,000 ion $ 9,000 64,000 23,000 25,000 2,000 51,000 29,500a 4,000 94,000 45,000 3,000 15,000 $233,500 $233,500