Question: Please provide the correct answer to this general accounting problem using valid calculations. A business had total equity of $120,000 on December 31, 2022. During

Please provide the correct answer to this general accounting problem using valid calculations.

A business had total equity of $120,000 on December 31, 2022. During the year 2023, it earned revenues of $195,000 and incurred expenses of $160,000. As of December 31, 2023, the company reported total liabilities of $89,000. What are the company' s total assets at December 31, 2023

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