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Omega Corporation's balance sheet on December 31, 2023, revealed total assets of $500,000, liabilities of $200,000, and owner's equity of $300,000. During the year, the
ยท Omega Corporation's balance sheet on December 31, 2023, revealed total assets of $500,000, liabilities of $200,000, and owner's equity of $300,000. During the year, the company sold off a piece of equipment for $50,000, acquired new technology worth $100,000, and distributed dividends to shareholders amounting to $30,000. 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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