Dream Home Inc. a real estate developing company, was accounting for its long-term contracts using the completed contract method prior to 2021 in 2021, it changed to the percentage of completion method The company decided to use the same for income tax purposes. The tax rate enacted is 30% Income before taxes under both the methods for the past three years appears below. 2019 2020 2021 Completed contract $450,000 $300,000 $150.000 Percentage-of-completion 750.000 375,000 270,000 Which of the following will be included in the journal entry made by Dream Home to record the income sted? A debit to Retained Eamings for $300.000 A credit to Retained Earnings for $300.000 A credit to Retained Eamings for $400,000 Adebit to Retained Earnings for $400.000