Summarize the steps in the closing process by selecting the correct choice below. Multiple choice question. Close income statement credit balance accounts; close income statement debit balance accounts; close income summary; close dividends. Close income statement credit balance accounts; close income summary; close dividends; close income statement debit balance accounts. Close income statement credit balance accounts; close income summary; close income statement debit balance accounts; close dividends. Close income statement debit balance accounts; close income statement credit balance accounts; close income summary; close dividends