3 At December 31, 20-0, Dowse Company had assets totalling $85 000. At December 31, 20-1, the assets totalled $115 000. During the same period, liabilities increased by $35 000. If the equity at the end of the first year amounted to $60 000, what was the amount of the owner's equity at December 31 of the sec- ond year? Show how you arrive at your answer.