The adjusted trial balance that follows was taken from the ledger of Laura Shipley, an attorney. Calculate the amount of owner's equity on December 31, 1990, and prepare a classified year-end balance sheet for the practice.

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LAURA SHIPLEY, ATTORNEY Adjusted Trial Balance December 31, 1990 Cash. $ 2,250 Accounts receivable 4,800 Prepaid insurance. 1,050 Office supplies 150 Investment in X-Ray Corporation common stock 20,000 Office equipment 15,750 Accumulated depreciation, office equipment Building Accumulated depreciation, building Land. Salaries payable. Unearned legal fees Long-term notes payable. Laura Shipley, capital $ 4,500 145,000 15,000 60,000 300 1,200 142,500 72,000 Laura Shipley, withdrawals 54,000 Legal fees earned 127,500 Operating expenses (combined). 60,000 Totals $363,000 $363,000