The information below is given for the end of a sole trader’s financial year. Non-current assets: $41000 Trade receivables: $12500 Trade payables: $4500 Bank: $3900 credit Long-term bank loan (due $2025$): $6000 Drawings: $2500 Profit for the year: $4200 What was the closing balance on the capital account?
- A$37400
- B$39100
- C$40800
- D$46900