Please answer all questions with explanations. Thank you! 2 points QUESTION 25 1. During the closing process: All income statement accounts are credited to income summary. All revenue accounts are credited and expense accounts are debited. All income statement accounts are debited to income summary. All revenue accounts are debited and expense accounts are credited. 2 points QUESTION 26 1. A debit balance in the income summary account indicates: A Net Loss. C A Net Profit. That revenues were greater than expenses. C An error was made. 2 points QUESTION 27 1. If Income Summary has a net credit balance, it signifies: A net loss. Net income. A reduction of net worth. Dividends have been declared. 2 points QUESTION 28 1. The balance in Income Summary: Will always be equal to the increase in retained earnings C Should equal retained earnings. C Will equal net income or net loss. c Will equal net income less dividends.