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Data Table - $ $ 31,500 4,600 Cost of services sold Accumulated depreciation Selling, general, and administrative expenses Retained earnings, December 31, 2020 700 14,100 Service revenue 40,900 Depreciation expense Other revenue 7,000 Dividends declared Income tax expense 1,900 Income tax payable 800 600 1,200 Begin by preparing the coming entries for South Shore Enterprises. Record the entry to close out the devenue sccounts. Becord de estrat, en creati. Bude pontorstrom any oumales. Chak your peting carta and do not abbreviate Use only the account mes provided in the problemet Journal Entry Date Accounts Debat Credit (1) Dec 31 Next, close out the expense accounts. Journal Entry Date Accounts Debit Credit (2) Dec 31 Now close out the dividend account. Journal Entry Date Accounts Debit Credit (3) Dec 31 How much net income did South 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 Petaned Eurarot. Post the beginning balance and ciencing entes a Retained Eames and in the ending tolace Red Earning