7- The transactions of a plumbing company during the first year of operations are given: A) The owner contributed $14,000 into cash for the business and recorded capital stock. B) Paid $2,000 for equipment purchased to be used for plumbing repairs. C) Borrowed $15,000 from a local bank and deposited the money in cash. D) Paid $600 as rent expense. E) Paid $500 for plumbing supplies to be used on various jobs in the future. F) Completed a service for a local lawyer and received $3,500. Calculate the amount of total assets balance at the end of the first year. * $2,500 $2,000 $29,000 $31,900 O None of the above