The income statement for the month of June, 2016 of Snap Shot, Inc. contains the following information: Revenues Expenses: Salaries and Wages Expense n Rent Expense Advertising Expense Supplies Expense Insurance Expense Total expenses Net income $7,300 $3,000 1,300 700 200 100 5,300 $2,000 After the revenue and expense accounts have been closed, the balance in Income Summary will be