Selected amounts from Trent Company's unadjusted trial balance of 12/31/14 appear below:

Please answer #2 clearly.
Selected amounts from Trent Company's unadjusted trial balance of 12/31/14 appear below:
         Bonds Payable                                                                                      500,000
         Common Stock                                                                                       60,000
         Prepaid Insurance                                                                                   30,000
         Interest Expense                                                                                      10,000
         Notes Payable (due 6/1/15)                                                                  200,000
         Prepaid Rent                                                                                         210,000
         Retained Earnings                                                                                 818,000
         Salaries and Wages Expense                                                                328,000

(All of the above accounts have their standard or normal debit or credit balance.)

1) Prepare adjusting journal entries at year end, December 31, 2014 with the following information.

a.   Interest accrued on the notes payable is $15,000 as of 12/31/14 and has not been recorded.

b.   Unexpired prepaid insurance at 12/31/14 is $25,000.

c.   The rent payment of $210,000 covered the six months from 11/30/2014 through 5/31/2015. The payment itself was correctly accounted for on 11/30/2014, but the firm has not made any adjusting entry since then.

d.   Salaries and wages earned by employees but unpaid (and not recorded) at 12/31/14 is $22,000.

2) Assume Net Income before the adjusting journal entries is $200,000. What is the balance of Retained Earnings as of 1/1/2015? Ignore taxes.