At the end of its first month of operations, JMP Consulting reported net income of $27,100. They also had account balances of: Cash, $19,400; Office Supplies, $2350 and Accounts Receivable, $10,700. The owner's total investment for this first month was $5350. There were no owner withdrawals in the first month.Calculate the ending balance in the Owner's Capital account to be reported on the Statement of Owner's Equity.
A. $7700
B. $5350
C. $21,750
D. $32,450
E. $27,100
Answer: D
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