During its first year of operations, a company entered into the following transactions: - Borrowed $5,160 from the bank by signing a promissory note. - Issued stock to owners for $11,600. - Purchased $1,160 of supplies on account. - Paid $560 to suppliers as payment on account for the supplies purchased.

1)

what is the amount of total assets at the end of the year?

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