diff --git a/src/report/report-system/report-system.scm b/src/report/report-system/report-system.scm
index 19c835de9c..3043314c19 100644
--- a/src/report/report-system/report-system.scm
+++ b/src/report/report-system/report-system.scm
@@ -663,7 +663,9 @@
 (export gnc:account-get-balance-interval)
 (export gnc:account-get-comm-balance-interval)
 (export gnc:accountlist-get-comm-balance-interval)
+(export gnc:accountlist-get-comm-balance-interval-with-closing)
 (export gnc:accountlist-get-comm-balance-at-date)
+(export gnc:accountlist-get-comm-balance-at-date-with-closing)
 (export gnc:query-set-match-non-voids-only!)
 (export gnc:query-set-match-voids-only!)
 (export gnc:split-voided?)
@@ -674,6 +676,7 @@
 (export gnc:accounts-count-splits)
 (export gnc-commodity-collector-allzero?)
 (export gnc:account-get-trans-type-balance-interval)
+(export gnc:account-get-trans-type-balance-interval-with-closing)
 (export gnc:account-get-pos-trans-total-interval)
 (export gnc:account-get-trans-type-splits-interval)
 (export gnc:double-col)
diff --git a/src/report/report-system/report-utilities.scm b/src/report/report-system/report-utilities.scm
index 3281cd4eb6..d38e354b64 100644
--- a/src/report/report-system/report-utilities.scm
+++ b/src/report/report-system/report-utilities.scm
@@ -643,9 +643,15 @@
 (define (gnc:accountlist-get-comm-balance-interval accountlist from to)
   (gnc:account-get-trans-type-balance-interval accountlist #f from to))
 
+(define (gnc:accountlist-get-comm-balance-interval-with-closing accountlist from to)
+  (gnc:account-get-trans-type-balance-interval-with-closing accountlist #f from to))
+
 (define (gnc:accountlist-get-comm-balance-at-date accountlist date)
   (gnc:account-get-trans-type-balance-interval accountlist #f #f date))
 
+(define (gnc:accountlist-get-comm-balance-at-date-with-closing accountlist date)
+  (gnc:account-get-trans-type-balance-interval-with-closing accountlist #f #f date))
+
 ;; utility function - ensure that a query matches only non-voids.  Destructive.
 (define (gnc:query-set-match-non-voids-only! query book)
   (let ((temp-query (qof-query-create-for-splits)))
@@ -708,7 +714,7 @@
 
 ;; Sums up any splits of a certain type affecting a set of accounts.
 ;; the type is an alist '((str "match me") (cased #f) (regexp #f))
-;; If type is #f, sums all splits in the interval
+;; If type is #f, sums all non-closing splits in the interval
 (define (gnc:account-get-trans-type-balance-interval
 	 account-list type start-date-tp end-date-tp)
   (let* ((total (gnc:make-commodity-collector)))
@@ -716,9 +722,13 @@
            (let* ((shares (xaccSplitGetAmount split))
                   (acct-comm (xaccAccountGetCommodity
                               (xaccSplitGetAccount split)))
+                  (txn (xaccSplitGetParent split))
                   )
-             (gnc-commodity-collector-add total acct-comm shares)
-             )
+             (if type 
+                (gnc-commodity-collector-add total acct-comm shares)
+                (if (not (xaccTransGetIsClosingTxn txn))
+                    (gnc-commodity-collector-add total acct-comm shares)
+             )))
            )
 	 (gnc:account-get-trans-type-splits-interval
           account-list type start-date-tp end-date-tp)
@@ -727,6 +737,26 @@
     )
   )
 
+;; Sums up any splits of a certain type affecting a set of accounts.
+;; the type is an alist '((str "match me") (cased #f) (regexp #f))
+;; If type is #f, sums all splits in the interval (even closing splits)
+(define (gnc:account-get-trans-type-balance-interval-with-closing
+	 account-list type start-date-tp end-date-tp)
+  (let* ((total (gnc:make-commodity-collector)))
+    (map (lambda (split)
+           (let* ((shares (xaccSplitGetAmount split))
+                  (acct-comm (xaccAccountGetCommodity
+                              (xaccSplitGetAccount split)))
+                  )
+                (gnc-commodity-collector-add total acct-comm shares)
+             )
+           )
+	 (gnc:account-get-trans-type-splits-interval
+          account-list type start-date-tp end-date-tp)
+	 )
+    total
+    )
+  )
 ;; similar, but only counts transactions with non-negative shares and
 ;; *ignores* any closing entries
 (define (gnc:account-get-pos-trans-total-interval
diff --git a/src/report/standard-reports/equity-statement.scm b/src/report/standard-reports/equity-statement.scm
index 78301ba3a8..e34ea03936 100644
--- a/src/report/standard-reports/equity-statement.scm
+++ b/src/report/standard-reports/equity-statement.scm
@@ -444,10 +444,10 @@
 	  
 	  ;; start and end retained earnings (income - expenses)
 	  (set! neg-pre-start-retained-earnings
-		(gnc:accountlist-get-comm-balance-at-date
+		(gnc:accountlist-get-comm-balance-at-date-with-closing
 		 income-expense-accounts start-date-tp)) ; OK
 	  (set! neg-pre-end-retained-earnings
-		(gnc:accountlist-get-comm-balance-at-date
+		(gnc:accountlist-get-comm-balance-at-date-with-closing
 		 income-expense-accounts end-date-tp)) ; OK
 	  ;; neg-pre-end-retained-earnings is not used to calculate
 	  ;; profit but is used to calculate unrealized gains
@@ -455,13 +455,13 @@
 	  ;; calculate net income
 	  ;; first, ask out how much profit/loss was closed
 	  (set! income-expense-closing
-		(gnc:account-get-trans-type-balance-interval
+		(gnc:account-get-trans-type-balance-interval-with-closing
 		 income-expense-accounts closing-pattern
 		 start-date-tp end-date-tp)
 		)
 	  ;; find retained earnings for the period
 	  (set! neg-net-income
-		(gnc:accountlist-get-comm-balance-interval
+		(gnc:accountlist-get-comm-balance-interval-with-closing
 		 income-expense-accounts
 		 start-date-tp end-date-tp)) ; OK
 	  ;; revert the income/expense to its pre-closing balance
@@ -532,7 +532,7 @@
 	  ;; 
 	  
 	  (set! equity-closing 
-		(gnc:account-get-trans-type-balance-interval
+		(gnc:account-get-trans-type-balance-interval-with-closing
 		 equity-accounts closing-pattern
 		 start-date-tp end-date-tp)
 		)
diff --git a/src/report/standard-reports/income-statement.scm b/src/report/standard-reports/income-statement.scm
index 9adeb1a6fb..23f0a917c5 100644
--- a/src/report/standard-reports/income-statement.scm
+++ b/src/report/standard-reports/income-statement.scm
@@ -516,29 +516,29 @@
 	  
 	  ;; sum revenues and expenses
 	  (set! revenue-closing
-		(gnc:account-get-trans-type-balance-interval
+		(gnc:account-get-trans-type-balance-interval-with-closing
 		 revenue-accounts closing-pattern
 		 start-date-tp end-date-tp)
 		) ;; this is norm positive (debit)
 	  (set! expense-closing
-		(gnc:account-get-trans-type-balance-interval
+		(gnc:account-get-trans-type-balance-interval-with-closing
 		 expense-accounts closing-pattern
 		 start-date-tp end-date-tp)
 		) ;; this is norm negative (credit)
 	  (set! expense-total
-		(gnc:accountlist-get-comm-balance-interval
+		(gnc:accountlist-get-comm-balance-interval-with-closing
 		 expense-accounts
 		 start-date-tp end-date-tp))
 	  (expense-total 'minusmerge expense-closing #f)
 	  (set! neg-revenue-total
-		(gnc:accountlist-get-comm-balance-interval
+		(gnc:accountlist-get-comm-balance-interval-with-closing
 		 revenue-accounts
 		 start-date-tp end-date-tp))
 	  (neg-revenue-total 'minusmerge revenue-closing #f)
 	  (set! revenue-total (gnc:make-commodity-collector))
 	  (revenue-total 'minusmerge neg-revenue-total #f)
           (set! trading-total 
-                (gnc:accountlist-get-comm-balance-interval
+                (gnc:accountlist-get-comm-balance-interval-with-closing
                  trading-accounts
                  start-date-tp end-date-tp))
 	  ;; calculate net income