Tarr,a Sole Proprietorship,had the Following Balances and Transactions During 2017

Multiple Choice

Tarr,a sole proprietorship,had the following balances and transactions during 2017: beginning capital,$40,000;contribution of cash to the business by the owner,$15,000;revenue,$60,000;expenses,$35,000;withdrawal by the owner,$5,000.What is the amount of the ending capital balance?

A) $40,000
B) $60,000
C) $75,000
D) $85,000