Fat Possum’s Service Shop started the year with total assets of $330,000

| March 29, 2017

Question
Fat Possum’s Service Shop started the year with total assets of $330,000 and total liabilities of $240,000. During the year, the business recorded $630,000 in revenues, $420,000 in expenses, and owner drawings of $60,000. Owner’s equity at the end of the year was

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