Martinville, Inc. earned revenues of $$16,000$ and incurred expenses of $$8,000.$ The company declared and paid cash dividends of $$3,500.$ What is the balance in the Income Summary account prior to closing net income or loss to the Retained Earnings account?

A$.$ debit balance of $$8,000$

B$.$ debit balance of $$4,500$

C$.$ credit balance of $$8,000$

D$.$ credit balance of $$16,000$