Question - Jayantha commenced business on 1 January 2010 with equity of £100,000. During the year ending 31 December 2010, he paid £92,400 for purchasing goods for sale (all of which was sold) and £31,450 for various expenses. He received £139,250 by sale of goods. Jayantha has drawn £12,000 in cash and introduced a motor car to the business valued at £10,000.
What is Jayantha's equity at 31 December 2010?