88 The income statement for the year 2016 of Bugati Co. contains the following information: Revenues $73,000 Expenses: Salaries and Wages Expense $43,000 Rent Expense 12,000 Advertising Expense 11,000 Supplies Expense 6,000 Utilities Expense 3,500 Insurance Expense 4,000 Total expenses 79,500 Net income (loss) (6,500) The entry to close the expense accounts includes a $ Select one: a. debit to Utilities Expense for $3,500. b. credit to Income Summary for $6,500. c. debit to Income Summary for $6,500. d. debit to Income Summary for $79,500