A companys ledger accounts and their end-of-period balances before closing entries are posted are shown below. What amount will be posted to Retained Earnings in the process of closing the Income Summary account? Retained Earnings $7,250 Dividends 10,150 Revenue 29,000 Rent Expense 2,900 Salaries Expense 6,800 Insurance Expense 325 Depreciation Expense equipment 480 Accumulated Depr. equipment 1,440

a. $18,495 debit

b. $8,345 credit

c. $18,495 credit

d. $19,935 credit

e. $8,345 credit