Prepare the closing entries from the following selected accounts from the records of Ulrich Corporation at December 31, 20X2:

How much net income did Ulrich earn during 20X2? Prepare a T-account for Retained Earnings to show the December 31, 20X2, balance of Retained Earnings.

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Accumulated depreciation Selling, general, and 17,800 Depreciation expense. 4,100 600 Other revenue..aaasn administrative expense Retained earnings, 400 300 Income tax December 31,20X1 1,900 Income tax payable