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Question - Gooseberry Clinic had total assets of $750,000 and an equity balance of $400,000 at year ending June 30, 2019. One year later, at year ending June 30, 2020, the clinic had $925,000 in assets and $450,000 in equity.
Required -
a. What was Gooseberry Clinic's dollar growth in assets during 2020?
b. How was this growth financed? (Include $$ calculations of each capital category.)
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