Vianova Incorporation started the year with total assets of $80,000 and total liabilities of $30,000. During the year, the business earned revenues of $120,000 and incurred expenses of $70,000. Vianova's owner made no additional capital contributions during the year, but did make withdrawals of $60,000. What is the amount of owner's equity at the end of the year? Select one: O $120,000 O $40,000 $60,000 O $30,000 O $70,000