A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the merchandiser was $95,000. During the year, Sales Revenue amounted to $74,000, Cost of Goods Sold was $35,000, and all other expenses totaled $15,000. The company declared and paid $21,000 as dividends. The last step in the closing process would include ________.

A. a debit to Income Summary for $24,000

B. a credit to Income Summary for $21,000

C. a debit to the Retained Earnings account for $21,000

D. a debit to the Retained Earnings account for