disregard the three categories already in the sample field.

Robin 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 loon to view the balance sheet.) Make the company's closing entries at July 31, 2021. Then set up a T-account for Retained Earnings and post to that account. Compare Retained Earnings' ending balance to the amount reported on Robin's staternient of retained earnings and balance sheet. What do you find? - Reference Reference Make the company's closing entries at July 31, 2021. (Record debits first, then credits. Excl Begin by making the closing entry for revenues at July 31, 2021 Journal Entry Date Debit Credit Accounts 31 Net Revenues Cost of Goods Sold All Other Expenses Jul Robin Sporting Goods Company Statement of Retained Earnings Year Ended July 31, 2021 Thousands Retained eamings, July 31, 2020 S 31,500 Add: Net income 25,200 S 58.700 Retained eamings, July 31, 2021 Robin Sporting Goods Company Balance Sheet July 31, 2021 Thousands Assets Current assets Cash $ 50,000 34,000 Accounts receivable -X Data Table Inventories Other current assets 36,000 5,000 Print Done $ $ 136,800 Retained earnings, July 31, 2020 Accounts receivable 50,000 Total current assets Property and equiprrient, net Other assets 125,000 19,400 30,000 19,400 Nel revenues Total current liabilities 31,500 Cost of goods sold 34,000 Cash 191,000 Property and equipment, net 80,000 Common stock 29,000 Inventories 5,000 Long-term liabilities 30,000 Dividends 26,000 $ 174,400 All other expenses Total assets 36,000 11,700 Liabilities Other current assets Total current liabilities S Other assets 0 80,000 11,700 Long-term liabilities