Question 11 (5 points) Teamboo Company's owner's equity at the beginning of August 2011 was $300,000. During the month, the company earned net income of $70,000 and owner's drawings were $30,000. At the end of August 2011, what is the balance in owner's equity? a) $270,000 b) $330,000 Oc) $300,000 d) $340,000