A company had revenue of $660,000, rent expense of $111,000, utility expense of $11,100, salary expense of $136,500, depreciation expense of $40,100, advertising expense of $41,300, dividends in the amount of $194,000, and an ending balance in retained earnings of $413,300. What is the appropriate journal entry to close income summary?
| A. | Income summary | $320,000 | |
| Retained earnings | $320,000 | ||
| B. | Retained earnings | $320,000 | |
| Income summary | $320,000 | ||
| C. | Income summary | $126,000 | |
| Retained earnings | $126,000 | ||
| D. | Retained earnings | $126,000 | |
| Income summary | $126,000 | ||
| E. | Income summary | $340,000 | |
| Retained earnings | $340,000 |
| Option A | |
| Option B | |
| Option C | |
| Option D | |
| Option E |