Please do check my answers by checking The Income Statment attached bellow.

2. After the revenue and expense accounts have been closed for Snap Shop Inc, the balance in Income Summary will be

Select one:

a. a debit balance of $7,300.

b. a debit balance of $2,000.

c. a credit balance of $2,000.

d. a credit balance of $7,300.

Bugati Co The income statement for the year 2020 of Bugati Co. contains the following information: Revenues $73,000 Expenses: Salaries and Wages Expense $43,000 Rent Expense 12,000 Advertising Expense 11,000 Supplies Expense 6,000 Utilities Expense 3,500 Insurance Expense 4,000 Total expenses 79,500 Net income (Loss) $ (6,500) Snap Shot, Inc The income statement for the month of June, 2020 of Snap Shot, Inc. contains the following information: Revenues $7,300 Expenses Salaries and Wages Expense $3,000 Rent Expense 1,300 Advertising Expense 700 Supplies Expense 200 Insurance Expense 100 Total expenses 5,300 Net income $2,000