Crowe Company began operations on January 1, Year 1. The company was organized as a sole proprietorship. During Year 1, Crowe acquired $58,000 of capital from John Crowe, the owner. Also, during Year 1 the company earned net income of $38,000 and John Crowe withdrew $33,000 from the business. Based on this information, the company would show Multiple Choice $23,000 in its capital account on the Year 1 balance sheet $58,000 in its capital account on the Year 1 balance sheet $63,000 in its capital account on the Year 1 balance sheet. $43,000 in its capital account on the Year 1 balance sheet.

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