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Taylor Inc. had revenues of $ 5 0 , 0 0 0 and expenses of $ 6 4 , 0 0 0 this year. No

Taylor Inc. had revenues of $50,000 and expenses of $64,000 this year. No dividends were paid this year. Which of the following would be included in the closing entries made at the end of the year?
\table[[Income Summary,14,000,],[Retained Earnings,,14,000]]
\table[[Retained Earnings,14,000,],[Income Summary,,14,000]]
\table[[Revenues,14,000,],[Income Summary,,50.000]]
\table[[Expenses,64,000,],[Income Summary,,64,000]]
\table[[Income Summary,50,000,],[Revenues,,50,000]]
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