Powell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $42,000 2) borrowed $27,000 from its bank 3) provided consulting services for $40,000 4) paid back $16,000 of the bank loan 5) paid rent expense for $9,500 6) purchased equipment costing $13,000 7) paid $3,100 dividends to stockholders 8) paid employees' salaries for work completed during the year, $22,000 What is Yowell's ending notes payable balance