Question: Can you solve this general accounting question with the appropriate accounting analysis techniques? At the beginning of the year, total assets were $75,000 and total

Can you solve this general accounting question with the appropriate accounting analysis techniques?

At the beginning of the year, total assets were $75,000 and total liabilities were $48,500. During the year, the business earned $120,000 in service revenue, incurred $70,000 in expenses, and the owner withdrew $15,000 for personal use. Calculate the owner's capital balance at the end of the year. a) $61,500 b) $46,500 c) $60,000 d) $51,500

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