12. ABC Corporation's balance sheet on December 31, 2023, is as follows:

Item	Amount ($)
Accounts Payable	50,000
Notes Payable	30,000
Accrued Expenses	12,000
Total Current Liabilities	?
Long-term Debt	120,000
Total Liabilities	?
Common Stock	70,000
Retained Earnings	85,000
Total Equity	?
Total Liabilities & Equity	?

Requirements:

1. Calculate the Total Current Liabilities.
2. Determine the Total Liabilities.
3. Calculate the Total Equity.