Question: The beginning capital balance shown on a statement of owner's equity is $71,000. Net income for the period is $21,000. The owner withdrew $29,000 cash

The beginning capital balance shown on a statement of owner's equity is $71,000. Net income for the period is $21,000. The owner withdrew $29,000 cash from the business and made no additional investments during the period. The owner's capital balance at the end of the period is

Multiple Choice

$92,000.
$121,000.
$79,000.
$63,000.

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