Vista Camera Services Started the Year with Total Assets of $90,000

Multiple Choice

Vista Camera Services started the year with total assets of $90,000 and total liabilities of $65,000.The revenues and the expenses for the year amounted to $120,000 and $50,000,respectively.During the year,the owner did not make any additional contributions,but made withdrawals of $55,000.What is the amount of owner's equity at the end of the year?

A) $50,000
B) $120,000
C) $40,000
D) $55,000