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this is an adjusted trial balance of American chip co. as of December 31, 2018 debit credit cash 14,000 accounts recieveable 83,000 inventory 36,000 equipment

this is an adjusted trial balance of American chip co. as of December 31, 2018

debit credit

cash 14,000

accounts recieveable 83,000

inventory 36,000

equipment 325,000

accumulated depreciation- equipment 137,000

accounts payable 38,000

bonds payable 49,100

common stock 100,000

retained earnings 83,000

dividends 6,000

sales revenue 780,000

interest revenue 4,500

cost of goods sold 435,000

salaries expense 130,000

rent expense 18,000

depreciation expense 33,000

income expense 5,300

insurance expense 6,300

after the 3rd closing entry to close the income summary account has been posted what is the balance of the income summary account?

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