Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $74,000 2) borrowed $42,000 from its bank 3) provided consulting services for $73,000 cash 4) paid back $32,000 of the bank loan 5) paid rent expense for $17,500 6) purchased equipment for $29,000 cash 7) paid $4,700 dividends to stockholders 8) paid employees' salaries of $38,000 What is Yowell's notes payable balance at the end of Year 1? Multiple Choice $42.000 $32,000 $10,000