Honfleur LLC conducts scenic boat tours on the English Channel. As of the start of the current month, June, the LLC's balance sheet was as follows: Assets Cash $12,000 Accounts Receivable $2,000 Property & Equipment $15,000 Liabilities Accounts Payable $5,000 Business Loan Payable $12,000 Owner's Equity $12,000 If only the following transactions occur during the month, what is the balance in owner's equity at the end of the month? 1. Buys a new boat for $12,000 funded by a new business loan 2. Earns $5,000 in revenue paid by clients right before boarding the boats 3. Pays $3,000 in employee salaries 4. Pays $2,000 of the amounts owed by the LLC at the start of the month