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 eamings, Dec. 31, 2019 1,900 Accumulated depreciation 17,800 Other revenue 500 General admin. expense 6,990 Depreciation expense 4,100 Income tax expense Income tax payable 400 Dividends 400 300 Service revenue 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? I Prepar a T-account for Retained Earnings to show the December 31, 2020, balance of Retained Earnings. Q3. Consider the unadjusted trial balance of Pale Ale Ltd. at October 31, 2019, and the reiated