Question Completion Status: Purrfect Pet provides pet grooming and boarding services for domestic cats. The company has been in existence for 12 years. At December 31, 2016, Purrfect Pet's adjusted trial balance is as follows Purrfect Pet Adjusted Trial Balance December 31, 2016 Cash Accounts receivable Prepaid insurance Equipment Accumulation depreciation Accounts payable Common stock Retained earnings Service revenue Miscellaneous revenue Salaries expense Rent expense Insurance expense Depreciation expense income tax expense income tax payable Debit Credit $ 89,600 64.000 10,400 720.000 $ 168,000 18.400 325,600 138.000 340,000 16.400 456,000 65.600 14.400 33.600 102.400 51.556.000 5.1.556.000 49.600 Prepare an income statement Prepate closingentes an ournal entry form Question Completion Status: Hepatu Suranice TU.400 Equipment 720.000 Accumulation depreciation $ 168,000 Accounts payable 18,400 Common stock 325,600 Retained earnings 138.000 Service revenue 840,000 Miscellaneous revenue 16,400 Salaries expense 456,000 Rent expense 65,600 Insurance expense 14,400 Depreciation expense 33.600 Income tax expense 102,400 Income tax payable 49,600 $1,556,000 $1.556.000 Prepare an income statement Prepare closing entnes in journal entry form After Purrfect Pet's closing entries are posted, what is the balance in the Retained Earnings account