The income statement for the month of June, 2021 of Ivanhoe Enterprises contains the following information: Revenues $6880 Expenses: Salaries and Wages Expense $3140 Rent Expense 1470 Advertising Expense 830 Supplies Expense 270 Insurance Expense 110 Total expenses 5820 Net income $1060 The entry to close the revenue account includes a credit to Income Summary for $6880. credit to Income Summary for $1060. debit to Income Summary for $6880. debit to Income Summary for $1060.

Alaska king crab fishing in the 1960s and '70s was a dangerous but rich fishery. boats from as far away as california and japan braved the treacherous gulf of alaska crossing to reach the abundant king crab beds in cook inlet and bristol bay. suddenly, in the early 1980s, the fishery crashed due to over fishing. all crabbing in those areas ended. to this day, there is no crabbing in bristol bay or cook inlet. a. how would an economist explain the decline of the alaska king crab fishery