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12:16 < Back Open in Safari Scott's Camera Shop started the year with total assets of $80,000 and total liabilities Of $40,000. During the year, the business earned revenues of $120,000 and incurred expenses of $70.000. Scott made no capital contributions during the year, but did make withdrawals of $60,000. What is the amount Of Scott's owner's equity at the end of the year? Your answer: O O O O $40,000 $50,000 $30,000 $10,000