Question
September 30, 2017 September 24, 2016 Total comprehensive income $ 47,567 $ 46,666 Net income $ 48,351 $ 45,687 Total assets $ 375,319 $ 321,686
September 30, 2017 September 24, 2016
Total comprehensive income $ 47,567 $ 46,666
Net income $ 48,351 $ 45,687 Total assets $ 375,319 $ 321,686 Total liabilities 241,272 193,437 Total liabilities and shareholders equity $ 375,319 $ 321,686
1. For the fiscal year ended September 30, 2017, what amount is credited to Income Summary to summarize its revenues earned? 2. For the fiscal year ended September 30, 2017, what amount is debited to Income Summary to summarize its expenses incurred? 3. For the fiscal year ended September 30, 2017, what is the balance of its Income Summary account before it is closed?
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