Save & Exit Submit High Step Shoes had annual revenues of $196,000, expenses of $109,200, and dividends of $22.400 during the current year. The retained earnings account before closing had a balance of $308,000. 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 $86,800; credit Retained earnings $86,800 Debit Retained earnings $86,800, credit Income Summary $86,800 Debit Retained earnings $308,000, credit Income Summary $308,000 4:17 PM 9/7/2020 e 0 BI Co search