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Edwards Corporation operates hair salons under various brand names. The following is a simplified list of accounts and amounts (in millions) reported in the companys accounts for the year ended June 30, 2016.

Accounts Payable	$	76
Accounts Receivable		80
Accumulated Amortization		16
Accumulated Depreciation		217
Amortization Expense		8
Cash		155
Common Stock		260
Depreciation Expense		71
Equipment		510
Income Tax Expense		8
Interest Expense		16
Inventories		163
Notes Payable (long-term)		162
Office Expenses		119
Prepaid Rent		53
Rent Expense		210
Retained Earnings		476
Salaries and Wages Expense		620
Salaries and Wages Payable		145
Service Revenue		1,156
Software		376
Supplies Expense		119

Prepare the closing entry required at June 30, 2016. ((Enter your answers in millions (i.e., 10,000,000 should be entered as 10). If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)