Consider the following selected accounts from the records of East Shore Enterprises at December $31,2021$:

$($Click the icon to view the selected accounts and balances.$)$

Read the requirement.

Begin by preparing the closing entries for East Shore Enterprises. Record the entry to close out the revenue accounts. $($Record debits first, then credits. Exclude explanations from any journal entries.$)$

$\backslash$table$[[$Journal Entry,Debit,Credit,$],[$Date$,$Accounts,,$],[(1)$ Dec,$31,,],[,,,],[,,,]]$

Requirement

Data table

$\backslash$table$[[$Cost of services sold,$$,15,000,$Service revenue,$$,31,600],[$Accumulated depreciation,,$41,900,$Depreciation expense,,$4,900],[$Selling$,$ general, and,,,Other revenue,,$100],[$administrative expenses,,$6,800,$Dividends declared,,$400],[$Retained earnings,,,,Income tax expense,,$600],[$December $31,2020,,2,200,$Income tax payable,,$300]]$

Prepare the closing entries for East Shore Enterprises at December $31,2021.$ How much net income did East Shore Enterprises earn during $2021?$ Prepare a T$-$account for Retained Earnings to show the December $31,2021,$ balance of Retained Earnings.