During January 2020, the first month of operations, a consulting firm had the following transactions: Issued common stock to owners in exchange for $42,000 cash. Purchased $10,500 of equipment, paying $3,150 cash and signing a promissory note for $7,350. Received $18,900 in cash for consulting services performed in January. Purchased $3,150 of supplies on account; all of the supplies were used in January. Provided consulting services on account in the amount of $33,600. Paid $1,575 on account. Paid $6,300 to employees for work performed during January. Received a bill for utilities for January of $7,150; the bill remains unpaid. What is the amount to be reported as total liabilities on the balance sheet at the end of January