The income statement for the year 2011 of Poole Co. contains the following information: Revenues $70,000 Expenses: Wages Expense $45,000 Rent Expense 12,000 Advertising Expense 6,000 Supplies Expense 6,000 Utilities Expense 2,500 Insurance Expense 2,000 Total expenses 73,500 Net income (loss) $(3,500) The entry to close Income Summary to Retained Earnings includes Answer A. a debit to Revenue for $70,000. B. credits to Expenses totalling $73,500. C. a credit to Income Summary for $3,500. D. a credit to Retained Earnings for $3,500