The Net Income of Edwards Inc

Multiple Choice

The net income of Edwards Inc. amounted to $74,000 for this year. The beginning balance of Owner's Capital account was $32,000 and the ending balance was $75,000. No additional contributions to capital were made during the year. What was the amount of his withdrawals during the year?

A) $75,000
B) $31,000
C) $149,000
D) $32,000