vesuon Completion Status: QUESTION 1 After preparing and posting the closing entries for revenues and expenses, the income summary account has a debit balance of $33,000. The entry to close the income summary account will be: Debit Retained Earrings $33,000; credit Income Summary $33,000 Debit Income Summary $33,000; credit Retained Earings $33,000. Debit Dividends $33,000 credit Income Summary $33.000 Credit Retained Earnings 533,000, debit Dividends $33,000. Help QUESTION 2 K. Canopy, the stockholder of Canopy Services, Inc., The company paid $5,700 cash in dividends to the owner (sole stockholder). The entry to close the dividends account at the end of the year is Debit Retained Earnings $5,700, credit Salary Expense $5,700 Debit Retained Earnings $5,700, credit Dividends $5.700 Debit Dividends $5.700 Credit Cash, $5.700 Debit Dividends $5,700, credit Retained Earnings 55,700 and Alerts 1 QUESTIONS Tara Westmont the stockholder of Tiptoe shoes, Inc., had annual revenues of $185.000, expenses of $103.700. The company paid $18,000 cash individends to the owner(sole stockholder). The retained earnings account before closing had a balance of 5297,000. The entry to close the income Summary account at the end of the year, after revenue and expense accounts have been closed, is Debit Retained Eamings 5297.000 credit Income Summary $297.000 Debit Income Summary 563,300; credit Retained Earnings 563,300 Debit income Summary $81.300 Credit Retained Earnings $81.300 Debt Retained Earnings $81.300credit income Summary S81300 Debit Retained Earnings 583,300 credit Income Summary $63.300 Click Save and Subanito and submit. Click Saw All Atlas