CHAPTER 4 -COMPLETING THE ACCOUNTING CYCLE G Previous Page 8 of 15 Next In the closing process, Owner Capital was debited for $49850 and credited for $78.200. The company has @ a. incurred a net loss of $49, 850 O b: eamed a net income of $78,200 D c incurred a net loss of $28,350 o d. eamed net income of $28,350