Blair Scott started a sole proprietorship by depositing $40,000 cash in a business checking account. During the accounting period, the business borrowed $20,000 from a bank, earned $5,800 of net income, and Scott withdrew $7,000 cash from the business. Based on this information, what is the balance in Scott's capital account at the end of the accounting period? Multiple Choice $45,800 $41,200 $58,800 $38,800