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InnoTech Inc.'s balance sheet on October 31, 2023, displayed total assets of $1 million, liabilities of $500,000, and owner's equity of $500,000. The company decided
ยท InnoTech Inc.'s balance sheet on October 31, 2023, displayed total assets of $1 million, liabilities of $500,000, and owner's equity of $500,000. The company decided to invest in a new research facility costing $200,000, issued bonds worth $300,000 to raise funds, and paid off a short-term loan of $100,000. Calculate the new total assets, liabilities, and owner's equity after these transactions. Additionally, determine the percentage change in liabilities from the beginning to the end of the year.
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