Waldorf Company had the following transactions during the month of October Year 1: (1) Cash received from bank loans was $60,000. (2) Dividends of $18,500 were paid to stockholders in cash. (3) Revenues earned and received in cash amounted to $100,500. (4) Expenses incurred and paid were $78,000. At the beginning of October, owners' equity in Waldorf was $480,000. Given the transactions in October Year 1, what will be the owners' equity at the end of the month