Sharon Samson owns Reliable Waterworks, which provides plumbing service. Transactions of Reliable Waterworks during the first year of operations are given below:

1. Sharon contributed $14,000 into a new checking account for the business and recorded capital contribution.
2. Paid $2,000 for equipment to be used for plumbing repairs
3. Borrowed $15,000 from a local bank and deposited the money in the checking account
4. Paid $600 as rent for the year
5. Paid $500 for plumbing supplies to be used on various jobs in the future
6. Completed a plumbing repair project for a local lawyer and received $3,500

Calculate the amount of total assets balance at the end of the first year.

A 2,500

B 2,000

C 29,000

D 31,000