The ledger of FCC Company includes the following accounts with normal balances: Common Stock, $12,800; Retained Earnings $4,541; Dividends, $1,500; Services Revenue, $55,000; Wages Expense, $16,600; and Rent Expense, $5,200. What amount will be debited to the income summary and credited to the retained account to close out the income summary account?

The ledger of FCC Company includes the following accounts with normal balances: Common Stock, $12,800; Retained Earnings $4,541; Dividends, $1,500; Services Revenue, $55,000; Wages Expense, $16,600; and Rent Expense, \$5,200. What amount will be debited to the income summary and credited to the retained account to close out the income summary account