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Golden Enterprises started the year with the following: Assets $115,000; Liabilities $40,000; Common Stock $70,000;...

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Accounting

Golden Enterprises started the year with the following: Assets $115,000; Liabilities $40,000; Common Stock $70,000; Retained Earnings $5,000. During the year, the company earned revenue of $6,100, all of which was received in cash, and incurred expenses of $3,550, all of which were unpaid as of the end of the year. In addition, the company paid dividends of $2,100 to owners. Assume no other activities occurred during the year.

The amount of Golden's liabilities at the end of the year is:

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