Prepare the closing entries from the following selected accounts from the records of North Shore Corporation at December 31, 2012:

How much net income did North Shore earn during 2012? Prepare a T-account for Retained Earnings to show the December 31, 2012, balance of RetainedEarnings.

Transcribed Image Text:

Cost of services sold.. Accumulated depreciation 41100 Depreciation expense Selling, general, and 4,100 400 300 500 1,200 administrative expenses. 6400 Di Retained earnings, vidends Income tax expense December 31, 20112,600 Income tax payable ..