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High Step Shoes had annual revenues of $194,000, expenses of $108.200, and dividends of $21,600 during the current year. The retained earnings account before closing

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High Step Shoes had annual revenues of $194,000, expenses of $108.200, and dividends of $21,600 during the current year. The retained earnings account before closing had a balance of $306.000 The entry to close the income Summary account at the end of the year, after revenue and expense accounts have been closed, is Multiple Choice Debit income Summary $85.00 credit Retained Earnings as 800 Debt income Summary $64.200, credit Retained Eamongs $64.200 Debt Retained Earrings $306,000 credit Income Summary $306.000 Debt Retained Eamongs SOS.BODIncome Summary $85,800 Debit Betained Earnings 564.200, credit Income Summary 564200

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