Max's Small Engine Repair Shop, a proprietorship, started the year with total assets of $60300 and total liabilities of $39600. During the year, the business recorded $99800 in repair revenues, $54500 in expenses, and Max Freelandt, the owner, withdrew $10200. Max's capital balance at the end of the year was:

$64700.

$55800.

$35100.

$45600.