James runs a tyre fitting company.
At the beginning of February he took out a `$50\ 000` bank loan to expand his workshop.
In July James had flood damage in his workshop and added `$20\ 000` to his bank loan to pay for repairs.
By the end September he had made loan repayments totalling `$12\ 000` and had also deposited business profits of `$15\ 000` into his loan account.
Write a number sentence and use it to calculate how much James owed at the end of September. (3 marks)