ree Quiz High Step Shoes had annual revenues of $195,000, expenses of $108,700, and dividends of $22,000 during the current year. The retained earnings account before closing had a balance of $307,000. 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 Retained Earnings $307,000; credit Income Summary $307,000 Debit Income 'Summary $86,300; credit Retained Earnings $86,300 Debit Retained Earnings $64,300; credit Income Summary $64,300 Debit Income Summary $64,300; credit Retained Earnings $64,300 Debit Retained Earnings $86,300; credit Income Summary $86,300