Gulf Waterworks Corporation Provides Plumbing Services

Gulf Waterworks Corporation provides plumbing services.Transactions during the first year of operations are given below.
A.Received $4,000 cash and issued common stock to Jason Robinson.
B.Paid $2,000 cash for equipment to be used for plumbing repairs.
C.Borrowed $26,000 from a local bank and deposited the money in the checking account.
D.Paid $800 rent for the year.
E.Purchased $800 of office supplies on account.
F.Completed a plumbing repair project for a local lawyer and received $3,500 cash.
Calculate the amount of total stockholders' equity at the end of the first year after recording the transactions.Assume office supplies of $800 are left at the end of the year.

A) $6,700
B) $3,500
C) $4,000
D) $26,000