The Income Statement columns of the end$-$of$-$period spreadsheet show that debits total $$55,800$ and credits total $$77,520.$ What does this information mean to the accountant?

$$ There is a net income of $$21,720.$

There is a net loss of $$21,720.$

The accounts are out of balance, indicating an error has been made.

The accounts have not been updated.

None of the above