Q2. Using the information below from the records of Creative Recreation Co. at December 31, 2020 (amounts in thousands) to answer the required questions. Cost of services sold 11,600 Retained earnings, Dec. 31, 2019 1,900 Accumulated depreciation 17,800 Other revenue 500 General admin., expense 6,990 Depreciation expense Income tax expense 400 Dividends Income tax payable 300 Service revenue 4,100 400 25,300 Required: Prepare the required closing entries for the following selected accounts. How much net income did Creative Recreation Co. earn during the year ended December 31, 2020? COM204 C1001&C005 2021 Spring Assignment #2 (Cha) Due on February 5 Prepare a T-account for Retained Earnings to show the December 31, 2020, balance of Retained Earnings.