Bearskin Inc. has recorded all the year-end adjustments. Its revenue accounts total $190,000 and its expense accounts total $130,000. The closing entry to close the income statement accounts for the year will debit the various:

		revenue accounts for a total of $190,000, debit Retained Earnings for $60,000, and credit the various expense accounts for a total of $130,000.
		expense accounts for a total of $130,000, credit the various revenue accounts for a total of $190,000, and credit Retained Earnings for $60,000.
		expense accounts for a total of $130,000, debit Retained Earnings for $60,000, and credit the various revenue accounts for a total of $190,000.
		revenue accounts for a total of $190,000, credit the various expense accounts for a total of $130,000, and credit Retained Earnings for $60,000.