Use the Tree City Sporting Goods Company data in Short Exercise 3-15 to make the company's closing

Question:

Use the Tree City Sporting Goods Company data in Short Exercise 3-15 to make the company's closing entries at July 31, 2016. Then set up a T-account for Retained Earnings and post to that account. Compare Retained Earnings' ending balance to the amount reported on Tree City's statement of retained earnings and balance sheet. What do you find?