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On January 1, 2024, Acme Corporation's balance sheet showed total assets of $1,200,000, liabilities of $600,000, and owner's equity of $600,000. During the year, the
ยท On January 1, 2024, Acme Corporation's balance sheet showed total assets of $1,200,000, liabilities of $600,000, and owner's equity of $600,000. During the year, the company acquired a new subsidiary for $300,000, issued bonds worth $200,000 to raise capital, and paid off a long-term loan of $100,000. 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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