Borrowed $$5,060$ from the bank by signing a promissory note.

Issued stock to owners for $$10,600.$

Purchased $$1,060$ of supplies on account.

Paid $$460$ to suppliers as payment on account for the supplies purchased.

What is the amount of total liabilities at the end of the year?

Multiple Choice

$$6,120$

$$16,260$

$$16,720$