Tyrone Gonzales started a sole proprietorship by depositing 30,000 cash in a business checking account. During the

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Question:

Tyrone Gonzales started a sole proprietorship by depositing 30,000 cash in a business checking account. During the accounting period the business earned 16,000 of net income and Gonzales withdrew 10,000 cash from the business. Based on this information, at the end of the accounting period, Gonzales' capital account contained a balance of:

a) 36,000

b) 28,000

c) 34,000

d) 30,000