Final answer:
The Net Income account has the same balance as the retained earnings account on the income statement.
Step-by-step explanation:
The type of income statement account that has the same type of balance as the retained earnings account is the Net Income account.
Net Income is calculated by subtracting expenses from revenue on the income statement. The net income is then transferred to the retained earnings account on the balance sheet, which helps in measuring the profitability and financial health of a company.
For example, if a company has $100,000 in revenue and $80,000 in expenses, the net income would be $20,000. This $20,000 would then be added to or deducted from the retained earnings account.