Question 16 The income statement for the month of June of Camera Obscura Enterprises contains the following information: Sales Revenues $7,000 Expenses: Salaries and Wages Expense $3,000 Rent Expense 1,500 Advertising Expense 800 Supplies Expense 300 Insurance Expense 100 Total expenses 5.700 Net income $1.300 3 pts After the revenue and expense accounts have been closed, the balance in Income Summary will be a credit balance of $7,000. $0. a debit balance of $1,300. a credit balance of $1,300.