mpt only) ion list stion 1 Data table Owl Sporting Goods Company reported the following data at July 31, 2021, with amounts in thousands (Click the icon to view the account balances) Click the icon to view the statement of retained eamings.) (Click the icon to view the balance sheet) Make the company's closing entries at July 31, 2021. Then set up a T-account for Retained Eamings and post to that account. Compare Retained Eamings' ending balance to the amount reported on Owl's statement of retained eamings and balance sheet. What do you find? Reference Xord debts first, then credits. Exclude explanations from any 2021. Retained eamings July 31 2000 13.300 Cost of goods sold $136,400 Reference Accounts receivable Net revenues 20,000 Cash 20,300 Property and eagment 175.500 19.000 Owl Sporting Goods Company That surrent labies 50.000 Common stock 20.000 Al uber e 27.000 aas 38.000 Statement of Retained Earninge Year Ended July 31, 2021 Oecuments 5.100 Long term leb 14,100 Thousands Other 24.300 Dividen 9 Retained eanings July 31, 2000 36.300 12,100 Adt at income 45,400 Retained sings, Jay 31, 2001 Calculator Print Done Print Done MacBook Pro Owl Sporting Goods Company Balance Sheet July 31, 2021 Thousands Assets Current Cash 26,300 Accounts receivable 20,000 38.000 5100 Tal curent assets a.000 Property and equipment 10,000 34300 Of 141,300 T Total cument late 14.100 Long-term