Bravo Corp:

(1) (2) (3)

On January 1, 2020, Bravo Company had $20,000 total liabilities and $50,000 total assets. During 2020, the Company earned revenues of $230,000. During 2020, the Company paid dividends of $40,000. At December 31, 2020, Bravo had total assets of $70,000 and total liabilities of $35,000.

What was the beginning balance of total equity at January 1, 2020? What was the ending balance of total equity at December 31, 2020? What was the total amount of expenses in 2020?