Where do temporary accounts close out to at the end of the company's fiscal year? a. Dividends b. Retained earings c. They do not close out d. Net income QUESTION 17 Which of the following statements is correct? a. Income statement accounts are temporary accounts and do not retain their balance sfrom one period to the next b. Balance sheet accounts are permanent accounts and do not retain their balances from one period to the next Oc Balance sheet accounts are temporary accounts and do retain their balances from one period to the next d. Income statement accounts are permanent accounts and do retain their balances from one period to the next QUESTION 18 Which of the following account balances would not be affected by closing entries? O a Accumulated depreciation b. Dividends c. Retained earnings d. Interest expense