Martinville, Inc. earned revenues of $20,000 and incurred expenses of $4,000. The company declared and...

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Accounting

Martinville, Inc. earned revenues of $20,000 and incurred expenses of $4,000. The company declared and paid cash dividends of $2,000. What is the balance in the Income Summary account prior to closing net income or loss to the Retained Earnings account?
A. debit balance of $16,000
B. debit balance of $14,000
C. credit balance of $16,000
D. credit balance of $20,000
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