Which of these accounts would be closed at year-end? Select one: a. Retained Earnings, but not Purchase Discounts b. Both Retained Earnings and Purchase Discounts c. Purchase Discounts, but not Retained Earnings d. Neither Retained Earnings nor Purchase Discounts Which of the following is a statement that correctly represents the accounting equation? Select one: O a. Assets = Liabilities - Owners' Equity b. Assets - Liabilities - Owners' Equity = 0 O c. Assets + Owners' Equity = Liabilities O d. Assets + Liabilities = Owners' Equity