At the beginning of the year, a business had $130,000 in owner's equity on the balance sheet. During the year, the business recorded $157,000 in service revenue and $8,000 in interest revenue. During the year, the business recorded $53,000 in wage expense, $25,000 in rent expense, and $19,000 in depreciation expense. The owner withdrew $29,000 during the year.

After closing entries are prepared for the revenue and expense accounts, the income summary account would have a ______[debit/credit] a balance of $_____.

The business will report a ______[profit/loss] for the year.

After closing entries are complete, the balance of owner's equity would be $______.