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Martinville, Inc. earned revenues of $ 15, 000 and incurred expenses of $ 8, 000. The company declared and paid cash dividends of $ 2,
Martinville, Inc. earned revenues of $ 15, 000 and incurred expenses of $ 8, 000. The company declared and paid cash dividends of $ 2, 500. What is the balance in the Income Summary account prior to closing net income or loss to the Retained Earnings account?
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