Robinson starts a plumbing service named Crusoe Waterworks. Transactions of Crusoe Waterworks during the first year of operations are given below:

A) Robinson deposited $7,000 into a new checking account for the business and recorded the capital contribution.

B) Paid $4,000 cash for equipment to be used for plumbing repairs.

C) Borrowed $30,000 from a local bank and deposited the money in the checking account.

D) Paid $800 rent for the year.

E) Purchased $900 of office supplies on account.

F) Completed a plumbing repair project for a local lawyer and received $3,500 cash.

Calculate the amount of total owner's equity after recording the transactions.

Group of answer choices

$9,700

$7,000

$3,500

$30,000