The income statement for the year ended in Dec, 2017 of Jood Company contains the following information: Revenues $18,000. Salaries and Wages Exponso $4,000. Rent Expense $3,000. Supplies Expense $800. Advertising Expense $400. Insurance Expense S200. The entry to close the revenue account includes a credit to Income Summary for $9,600. This statement is a. True b. False