There are four closing entries. The first one is to close revenues, the second one is to close , and the last one is to close the expenses, the third one is to close Income Summary; dividends account O Income Summary; common stock account Income Summary; assets dividends account; Income Summary The journal entry to close the Fees Earned, $750, and Rent Revenue, $175, accounts during the year-end closing process would be: Dec. 31 Fees Earned 750 Rent Revenue 175 Income Summary 925 Dec. 31 Income Summary 925 Fees Earned 750 Rent Revenue 175 Dec. 31 Revenues 925 Income Summary 925 Dec. 31 Ingame Summary 925 Revenues 925 Question 8 The statement of retained earnings should be prepared before the income statement and after the balance sheet O before the income statement and balance sheet after the income statement and balance sheet O after the income statement and before the balance sheet 4 pts E