High Step Shoes had annual revenues of $190,000, expenses of $106,200, and dividends of $20,000 during the current year. The retained earnings account before closing had a balance of $302,000. The entry to close the Income Summary account at the end of the year, after revenue and expense accounts have been closed, is:

Group of answer choices

a) Debit Retained earnings $83,800, credit Income Summary $83,800

b) Debit Income Summary $83,800, credit Retained earnings $83,800

c) Debit Retained earnings $63,800; credit Income Summary $63,800

d) Debit Income Summary $63,800; credit Retained earnings $63,800

e) Debit Retained earnings $302,000; credit Income Summary $302,000