Capri Company began the current perlod with a $$39,000$ credit balance in the K$.$ Capri, Capital account. At the end of the period, the company's adjusted account balances include the following temporary accounts with normal balances.

Services revenue

Salaries expense

Depreciation expense

$$80,000$ Interest revenue

$48,500$ K$.$ Capri, withdrawals

$8,600$ Utilities expense

$11,40020,5005,500$

After closing the revenue and expense accounts, what is the balance of the Income Summary account?

$\backslash$table$[[$Step $1$: Close Revenues to Income Summary$[$Step $2$: Close Expenses to Income Summary

After all closing entries are journalized and posted, what is the balance of the K$.$ Capri, Capital account?

Step $3$: Close Income Summary to CapitaStep $4$: Close Withdrawals to Capital