Consider the following selected accounts from the records of North Shore Enterprises at December 31, 2021: Data table Cost of services sold $ 14,000 Service revenue $ 31,500 CC Accumulated depreciation 41,000 Depreciation expense 4,700 Selling, general, and Other revenue 1,100 administrative expenses 6,600 Dividends declared 300 Retained earnings, Income tax expense 500 December 31, 2020 2,100 Income tax payable 800 (1) Dec Date Journal Entry Accounts Debit Credit 31 Next, close out the expense accounts. Date (2) Dec 31 Journal Entry Accounts Debit Credit Now close out the dividend account. Date Dec 31 Journal Entry Accounts Debit Credit How much net income did North Shore Enterprises earn during 2021? Net income for 2021 was Prepare a T-account for Retained Earnings to show the December 31, 2021, balance of Retained Earnings. Post the beginning balance and closing entries to Retained Earnings and determine the ending balance. Retained Earnings