Prepare the closing entries from the following selected accounts from the records of North Shore, Inc., at December 31, 2021:

How much net income did North Shore earn during 2021? Prepare a T-account for Retained Earnings to show the December 31, 2021, balance of Retained Earnings. 

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Cost of services sold ............. Accumulated depreciation... Selling, general, and administrative expenses.... Retained earnings, December 31, 2020.......... $14,400 41,400 6,400 2,500 Service revenue. Depreciation expense. Other revenue Dividends declared. Income tax expense. Income tax payable. $31,700 4,600 100 500 800 400