Victor Vardy owns Ever-Plumb Waterworks which provides plumbing service. Transactions of Ever-Plumb Waterworks during the first year of operations are given below: - Victor contributed $14,000 into a new checking account for the business and recorded capital contribution. - Paid $2,000 for equipment to be used for plumbing repairs. - Borrowed $16,000 from a local bank and deposited the money in the checking account - Paid $600 as rent for the year. - Paid $500 for plumbing supplies to be used on various jobs in the future. - 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. Select one: O $2,500 O $2,000 O $29,000 O $31,900 O $32,900