Use This Information from the Income Statement Columns of the Work

Multiple Choice

Use this information from the Income Statement columns of the work sheet of Oneida Landscape Service to answer the following question. The entry to close Income Summary would be

A) Income Summary 5,000
Retained Earnings 5,000
B) Common Stock 1,400
Income Summary 1,400
C) Income Summary 1,400
Retained Earnings 1,400
D) Income Summary 1,400
Common Stock 1,400