24) Jackson Ltd had total assets of $160,000 and total liabilities of $40,000 at the beginning of the year. During the year, the business recorded $120,000 in revenues, $40,000 in expenses, and dividends of $20,000 were distributed. Equity at the end of the year is:

Select one:

a. $180,000.

b. $260,000.

c. $120,000.

d. $60,000.