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Tara Westmont, the proprietor of Tiptoe Shoes, had annual revenues of $198,000, expenses of $110,200, and withdrew $23,200 from the business during the current year.
Tara Westmont, the proprietor of Tiptoe Shoes, had annual revenues of $198,000, expenses of $110,200, and withdrew $23,200 from the business during the current year. The owners capital account before closing had a balance of $310,000. The ending owners capital balance after closing is:
A. $198,000
B. $64,600
C. $87,800
D. $374,600
E. $397,800
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