Base your answers to questions 3, 4, and 5 on the following information:

Here's a partial trial balance of the Sheila James Dancing Studio as of October 31, 20XX. The accounting records are maintained on an accrual basis.

SHEILA JAMES DANCING STUDIO Partial Trial Balance October 31, 20XX

Fee Income 34,175

Interest Income 310

Salaries Expense 15,125

Office Supplies Expense 1,200

Rent Expense 2,900

Telephone Expense 600

Insurance Expense 720

Sheila James, Capital 30,500

Sheila James, Drawing 4,170

Taxes Expense 1,420

Miscellaneous Expense 905

The following information has been made available in connection with the closing of the books as of October 31, 20XX.

Interest income earned but not received $100

Rent due but unpaid 150

Expired insurance premiums for the month 75

Office supplies used during October 120

Salaries due but unpaid 750

3. The total amount of income from all sources to be closed out and transferred to the Income Summary account is

A. $35,335.

B. $34,705.

C. $34,585.

D. $34,485.

4. The total amount of expense from all sources to be closed out and transferred to the Income Summary account is

A. $24,065.

B. $23,965

C. $23,890.

D. $22,870.

5. The balance in the Sheila James, Capital account as it would appear on a post-closing trial balance prepared as of October 31, 19XX, would be

A. $36,950.

B. $37,190.

C. $38,045.

D. $41,120.