Revenues $70,000 Expenses: Salaries and Wages Expense $45,000 Rent Expense 12,000 Advertising Expense 8,000 Supplies Expense 6,000 Utilities Expense 2,500 Insurance Expense Total expenses 2,000 75,500 Net income (loss) $(5.500) The income statement for the year 2013 of Fugazi Co. contains the following information: After all closing entries have been posted, the Income Summary account will have a balance of