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answer the following questions The income statement for the month of June, 2019 of ZARK Company contains the following information: Revenues $7,000 Expenses: Wages Expense

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The income statement for the month of June, 2019 of ZARK Company contains the following information: Revenues $7,000 Expenses: Wages Expense $2,000 Rent Expense 1,000 Supplies Expense 300 Advertising Expense 200 Insurance Expense 100 Total expenses 3,600 Net income $3,400The entry to close the revenue account includes a * debit to Income Summary for $3,400. O credit to Income Summary for $3,400. O debit to Income Summary for $7,000. O credit to Income Summary for $7,000. The entry to close the expense accounts includes a * O debit to Income Summary for $3,400. O credit to Rent Expense for $1,000, O debit to Wages Expense for $2,000. debit to Income Summary for $3,600 After the revenue and expense accounts have been closed, the balance in Income Summary will be * O $o. O a debit balance of $3,400. a credit balance of $3,400. O a credit balance of $7,000.The entry to close Income Summary to Owner's Capital includes * O a debit to Revenue for $7,000. O credits to Expenses totaling $3,600. O a credit to Income Summary for $3,400 O a credit to Owner's Capital for $3,400. At June 1, 2019, the Company reported owner's capital of $35,000. The company had no owner drawings during June. At June 30, 2019, the company will report owner's capital of * $35,000. $42,000. O $38,400. O $31,600.After all closing entries have been posted. the Income Summary account will have a balance of *

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