Prepare the closing entries from the following selected accounts from the records of North Pole Enterprises at December 31, 2018:

How much net income did North Pole Enterprises earn during 2018? Prepare a T-account for Retained Earnings to show the December 31, 2018, balance of Retained Earnings.

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Cost of services sold. . Accumulated depreciation... Selling, general, and administrative expenses.. Retained earnings, December 31, 2017.. Service revenue... $14,800 41,100 $32,200 4,100 Depreciation expense Other revenue Dividends declared.. Income tax expense. Income tax payable.. 1,000 6,200 500 900 2,000 600