Cash Accounts Receivable Inventory Gulf Shipping Company Balance Sheet As of January 3, 2019 (amounts in thousands) 14,300 Accounts Payable 4,100 Debt 5,800 Other Liabilities 14,800 Total Liabilities 700 Paid-In Capital Retained Earnings Total Equity 39,700 Total Liabilities & Equity Property Plant & Equipment Other Assets 1,900 3,200 4,000 9,100 7,700 22,900 30,600 39,700 Total Assets Transfer the journal entries to T-accounts for the transactions below, compute closing amounts for the T-accounts, and construct a final balance sheet to answer the question. Journal amounts in thousands Date Jan 4 Debit Credit 50 Jan 5 Jan 6 Jan 7 Account and Explanation Cash Inventory Retained Earnings Sold and delivered product to customer Cash Debt Borrowed money from bank Cash Paid-In Capital Issued stock Inventory Accounts Payable Bought manufacturing supplies on credit Accounts Payable Cash Paid money owed to supplier Cash Accounts Receivable Received customer payment Property, Plant & Equipment Cash Paid cash for machine Jan 8 Jan 9 Jan 10 What is the final amount in Total Equity