Analyze the changes in Nowcorp's financial position from the beginning to the end of the year Unknown node type: p id=MathJax-Element-5-Frame style=font-size: 121%;

$Analyze\; the\; changes\; in\; Nowcorp\text{'}s\; financial\; position\; from\; the\; beginning\; to\; the\; end\; of\; the\; year <mtext>Unknown\; node\; type:\; p</mtext>$

At the beginning of the year, Nowcorp's liabilities were $10,000 and equity was $50,000. At the end of the year, Nowcorp's liabilities were $7,000 and equity was $60,000.