APPLYING THE FUNDAMENTAL ACCOUNTING EQUATION At the beginning of 2009, Huffer Corporation had total assets of $226,800, total liabilities of $84,200, common stock of $80,000, and retained earnings of $62,600. During 2009, Huffer had net income of $31,500, paid dividends of $11,900, and sold additional common stock for $12,000. Huffer’s total assets at the end of 2009 were $278,200.

Required:

Calculate the amount of liabilities that Huffer must have at the end of 2009 in order for the balance sheet equation to balance.