Andrea Apple opened Apple Photography, Inc. on January 1 of the current year. During January, the following transactions occurred and were recorded in the company's books: 1. Andrea, the stockholder, invested $13,800 cash in the business.
2. Andrea contributed $23,000 of photography equipment to the business.
3. The company paid $2,400 cash for an insurance policy covering the next 24 months.
4. The company received $6,000 cash for services provided during January.
5. The company purchased $6,500 of office equipment on credit.
6. The company provided $3,050 of services to customers on account.
7. The company paid cash of $1,800 for monthly rent.
8. The company paid $3,400 on the office equipment purchased in transaction #5 above.
9. Paid $305 cash for January utilities.

Based on this information, the balance in the A. Apple, Capital account reported on the Statement of Owner's Equity at the end of the month would be:

a. $31,400.
b. $39,200.
c. $31,150.
d. $40,175.
e. $30,875.