At April 1, 2018, Spiderland Company reported a balance of $20,000 in the Retained Earnings account. Spiderland Company earned revenues of $50,000 and incurred expenses of $32,000 during April 2018. The company paid dividends of $10,000 during the month. - Your answer is partially correct. Prepare the entries to close Income Summary and the Dividends account at April 30, 2018. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Apr. 30 Income Summary 18000 Owner's Capital 18000 (To close net income to retained earnings.) Apr. 30 Owner's Capital 10000 10000 Owner's Drawings (To close dividends to retained earnings.) e Textbook and Media List of Accounts