4) True [B] False 4. The Income Summary account appears in the income statement. .. . . [A] True ... Bi False ... The owner's Withdrawals account bypasses the Income Summary account when it is being closed. @ True . . . [B] False . . ..... EXT . The capital, withdrawals, and Income Summary, accounts for Baker! Pepair Shop for the accounting period are presented below in T. account form after recording and posting of closing entries.'' Baker, Capital .... 12/31 4001/?800. : 12/31 300 . .3/1.700. Baker, Withdrawals 12/31 6/1: 100 300 - S/1. 100 ... Inicode Summary 12/31 1,000 .. 12/31 - 690 .. 12/31 400 The amount of revenue earned for the period was. a. $400.... :b. $600... . . ... . C. $1,000. : d. none of the above.........: NO consider the information given in Problem 2). of net income (or net loss) for the period was a... $400 net loss. .. 1.b $600.net income.. C $400 net income.. d. none of the above. . 3. The amount of withdrawAS FOR THE Pelion was a. 100 . . . . . c. 300