John Brown, Attorney, began the year with total assets of $120,000 and total liabilities of $70,000. During
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John Brown, Attorney, began the year with total assets of $120,000 and total liabilities of $70,000. During the year he earned revenue of $110,000 and paid expenses of $30,000. He also withdrew $60,000 for personal living expenses. What was Brown's equity at year-end?
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