A Company Had Revenue of $250,000,rent Expense of $10,000,utility Expense

Multiple Choice

A company had revenue of $250,000,rent expense of $10,000,utility expense of $3,500,salary expense of $18,500,depreciation expense of $9,000,advertising expense of $4,500,dividends in the amount of $18,000,and a beginning balance in retained earnings of $17,900.What is the amount in the income summary account before it is closed for the period?

A) $250,000
B) $45,500
C) $204,500
D) $222,400
E) $232,100