The income statement for the year 2016 of Bugati Co. contains the following information: $73,000 Revenues Expenses: Salaries and Wages Expense $43,000 Rent Expense 12,000 Advertising Expense 11,000 Supplies Expense 6,000 Utilities Expense 3,500 Insurance Expense 4,000 Total expenses 79,500 Net income (loss) $_(6,500) The entry to close the expense accounts includes a Select one: a. debit to Utilities Expense for $3,500. b. debit to Income Summary for $6,500. c. debit to Income Summary for $79,500. d. credit to Income Summary for $6,500