You are an accountant for ABC Co. and need to prepare closing entries for the end of the accounting period. You know that the steps listed below need to be completed. In which order should you complete these steps? I. Close net income to Owners Capital. II. Identify all revenue and expense accounts and their balances. III. Prepare one entry for accounts with debit balances. IV. Close Owners Drawings to Owners Capital. V. Prepare one entry for accounts with credit balances.

which option

IV, III, V, II, I

II, IV, V, III, I

I, III, V, II, IV

II, V, III, I, IV