On April 30, 2013, the balance sheet of Abkan Art Gallery showed total assets of $800,000, total liabilities of $500,000, and owners' equity of $300,000. The following transactions occurred in May of 2013:

(1) Capital stock was issued in exchange for $175,000 cash.

(2) The business purchased equipment for $380,000, paying $180,000 cash and issuing a note payable for $200,000.

(3) The business paid off $80,000 of its accounts payable.

(4) The business collected $64,000 of its accounts receivable.

Compute the following as of May 31, 2013:

(A.) Total assets $___________

(B.) Total liabilities $___________

(C.) Owners' equity $___________