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Everest Corporation's balance sheet on August 31, 2023, revealed total assets of $800,000, liabilities of $300,000, and owner's equity of $500,000. During the year, the
ยท Everest Corporation's balance sheet on August 31, 2023, revealed total assets of $800,000, liabilities of $300,000, and owner's equity of $500,000. During the year, the company sold off a piece of land for $50,000, acquired new machinery worth $100,000, and distributed dividends to shareholders amounting to $20,000. Calculate the new total assets, liabilities, and owner's equity after these transactions. Additionally, determine the percentage change in total assets from the beginning to the end of the year.
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