Johnnys Car Repairs had total assets of $70 000 and total liabilities of $40 000 at the beginning of the year. During the year the business recorded $100 000 in revenues, $55 000 in expenses, and dividends of $10 000 were distributed. Equity at the end of the year is:

		$55 000.
		$35 000
		$65 000
		$45 000