After closing the revenue and expense accounts, Income Summary showed a debit balance of $1,900. Which of the following statements is true?

A) The company had a net loss of $1,900.
B) The company had a net income of $1,900.
C) The company's cash increased $1,900.
D) The Capital account increased $1,900.

Income Summary

An account to which all income statement account balances are transferred at the end of an accounting period to show the period's profit or loss.

Debit Balance

A situation in accounting where the sum of debits in an account exceeds the sum of credits, often indicating the extent of assets or expenses.