The accounts of Meadowbrook Services, Inc., January 31, 2018, are well in alcalder Con to view the Read the Requirement 1. Allians have been journalized and posted, but the closing entre not yet de jour Meadowbrook's longer alary 31, 2018 Recordsbits the credits. Ele explanations from any Jual ) Record the closing wis for direkt Jary 31, 2018. Begin by casing the reverse account Journal Entry Accounts Debit Credit 11 31 Requirements 1. All adjustments have been journalized and posted, but the closing entries have not yet been made. Journalize Meadowbrook's closing entries at January 31, 2018. 2. A T-account for Retained Earnings has been set up for you. Post to that account. Then calculate Meadowbrook's net income for the year ended January 31, 2018. What is the ending balance of Retained Earnings? 3. Did Retained Earnings increase or decrease during the year? What caused the increase or the decrease? Print Done Accounts payable $ 200 Accounts receivable Accumulated depreciation, equipment Advertising expense 15,600 13,900 5,000 Cash 10,000 Interest expense 1,000 Note payable, long term Other assets, long-term 7,100 Prepaid expenses 11,200 Retained earnings, 22,000 January 31, 2017 1,500 Salary expense Salary payable 2,200 Service revenue 2,100 Supplies 13,000 Supplies expense 43,000 Unearned service revenue Common stock Current portion of long-term note payable Depreciation expense-equipment Dividends declared Equipment 13,700 27,800 2,000 95,500 6,400 5,000 3,000