The first sentence of the concluding paragraph uses the principal words from the quotations from each paragraph of the body of the paper. This summarizes those three paragraphs. The second and third sentences provide observations which can also be considered a summary, not only of the content of the paper, but also offers personal opinion which was logically drawn as the result of this study. The last sentence returns to the Edgar Allan Poe-Stephen King relationship that began this paper. This sentence also provides a "wrap-up" and gives the paper a sense of finality.
When we paraphrase, we provide a version that can exist beside the original (rather than replace it). We paraphrase all the time. When you tell a friend what someone else has said, you're almost always paraphrasing, since you're not repeating the exact words. If you go to hear a talk, you might paraphrase the speaker's main points afterward for your friends. And when writing a paper on a short story, you might start off your essay with a paraphrase of the plot. Paraphrasing is especially useful when dealing with poetry, since poetic language is often difficult and poems may have meanings that are hard to pin down.