Problem:
Hightown Clinic had total assets of 600,000 and an equity balance of $350,000 at the end of 2010. One year later, at the end of 2011, the clinic had $675,000 in assets and $400,000 in equity.
Required:
Question 1: What was the clinic's dollar growth in assets during 2011, and how was this growth financed?
Note: Explain all steps comprehensively.