Yowell Company Began Operations on January 1, Year 1

Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1) issued stock for $74,0002) borrowed $59,000 from its bank3) provided consulting services for $72,0004) paid back $32,000 of the bank loan5) paid rent expense for $17,5006) purchased equipment costing $29,0007) paid $4,700 dividends to stockholders8) paid employees' salaries for work completed during the year, $38,000What is Yowell's ending notes payable balance?

A) $0
B) $59,000
C) $27,000
D) $32,000