Shown Below Are a Company's Ledger Accounts and Their End-Of-Period

Multiple Choice

Shown below are a company's ledger accounts and their end-of-period balances before closing entries are posted. What amount will be posted to Retained Earnings in the process of closing the Income Summary account? (Assume all accounts have normal balances.)
$$\begin{array} { | l | r | } \hline \text { Retained earnings } & \$ 14,000 \\\hline \text { Dividends } & 19,200 \\\hline \text { Sales Revenue } & 58,000 \\\hline \text { Rent expense } & 7,200 \\\hline \text { Salaries expense } & 14,400 \\\hline \text { Insurance expense } & 840 \\\hline \text { Depr. Expense - equipment } & 900 \\\hline \text { Accum depr. - equipment } & 2,500 \\\hline\end{array}$$

A) $16,780 debit
B) $15,460 credit
C) $48,660 credit
D) $34,660 credit
E) $17,960 credit