Shown below is a trial balance for Novelty Toys, Inc., on December 31, after adjusting entries: Net income for the period equals: After closing the accounts, Retained Earnings at December 31 equals: The total debits in the After-Closing Trial Balance will equal: Income Summary will have what balance before it is closed? Assume instead that Fees Earned totaled $20,000 for the fiscal year. After closing revenue and expenses to income summary, would income summary account have a net debit or credit balance? Debit credit