Jack Grimes Started a Sole Proprietorship by Depositing $25,000 Cash

Multiple Choice

Jack Grimes started a sole proprietorship by depositing $25,000 cash in a business checking account. During the accounting period the business borrowed $10,000 from a bank, earned $6,000 of net income, and Grimes withdrew $4,000 cash from the business. Based on this information, at the end of the accounting period Grimes' capital account contained a balance of:

A) $31,000.
B) $37,000.
C) $24,000.
D) $27,000.