Max's Small Engine Repair Shop, a proprietorship, started the year with total assets of $59800 and total liabilities of $40800. During the year, the business recorded $99500 in repair revenues, $54500 in expenses, and Max Freelandt, the owner, withdrew $10800. Max's capital balance at the end of the year was

$53200.

$65300.

$42400.

$34200.