Ray Gomez, had a law business that began the year with total assets of $ 120000, total liabilities of $ 70000, and owner's equity of $ 50000. During the year the business earned revenue of $ 110000 and paid expenses of $ 30000. Ray also invested an additional $ 20000 in the business and withdrew $ 80000 for living expenses. How much is the owner's equity in the business at year-end?