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

SR Ski Shop, Inc. Adjusted Trial Balance December 31, 2011 Debit Credit Cash Accounts receivable Prepaid rent Supplies Equipment Accumulated depreciation Land Accounts payable Notes payable Interest payable Common stock Retained earnings Dividends Sales Cost of goods sold Depreciation expense Salaries expense Totals Retained earnings at January 1, 2011. (No accounts have been closed.) $15,000 23,000 19,600 21,750 18,000 10,000 72,000 27,650 30,000 3,610 45,500 26,370a 2,000 69,220 15,000 5,000 21,000 $212,350 $212,350