High Step Shoes had annual revenues of $204.000, expenses of $113,200, and dividends of $25,600 during the current year The retained earings account before closing had a balance of $316,000. 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 6:27 Debit Retained earnings $90,800 credit Income Summary $90.800 Debit Income Summary $90.800 credit Retained earnings 590.800 Debit Retained earnings $65.200 credit Income Summary 565 200 Use the information in the adjusted trial balance presented below to calculate current assets for Wicked Wicker Company Account Title Cash Accounts receivable Prepaid insurance Equipment Accumulated depreciation-Equipment Land Accounts payable Interest payable Unearned revenue Long-term notes payable Retained earnings Totals Dr. Cr. $ 44,000 23,000 9,400 170,000 $ 85,000 102,000 24,000 4,150 7,100 51,080 177,150 $348,400 $348,400