Bloomfield Company Issued Stock for $30,000 Cash on January 20,2012

Bloomfield Company issued stock for $30,000 cash on January 20,2012.During 2012,the company recorded revenue on account of $12,000 and expenses on account of $5,500.Bloomfield received $8,200 cash from accounts receivable and paid $4,500 on the accounts payable.The company also purchased land for $5,000 cash.The beginning cash balance was zero.Based on this information,the amount of cash at the end of the year is:

A) $31,500
B) $22,974
C) $29,100
D) $28,700