Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $80,000 2) borrowed $45,000 from its bank 3) provided consulting services for $78,000 cash 4) paid back $35,000 of the bank loan 5) paid rent expense for $19,000 6) purchased equipment for $32.000 cash 7) paid $5,000 dividends to stockholders 8) paid employees' salaries of $41.000 What is Yowell's notes payable balance at the end of Year 1? Multiple Choice $45,000