53. WP Stereo Inc. reports the following information at its year end. Revenue $33,000 Total Expenses $21,000 Dividends $1,800 The closing entry to record the profit and the dividends paid would be: (a) $12,000 $12,000 Income Summary Retained Earnings Dividends Cash $1,800 $1,800 (b) $10,200 $10,200 Income Summary Retained Earnings Retained Earnings Dividends $1,800 $1,800 (c) $12,000 $12,000 Income Summary Retained Earnings Retained Earnings Dividends $1,800 $1,800 $33,000 (d) $33,000 Income Summary Retained Earnings Retained Earnings Dividends $1,800 $1,800