Question 8 What is the total for owner's equity on the balance sheet after the following cash transactions are recorded? * Acquired $35,000 cash from the issue of common stock. * Borrowed $40,000 from a bank. * Earned $29,500 of revenues. * Expenses were $17,950. * Paid a $1,500 dividend. O $45,050 O $48,950 $63,000 O $51,550 O $85,050