Exercise 9-8A (Algo) Current liabilities LO 9-1, 9-2, 9-4 [The following information applies to the questions displayed below.] The following transactions apply to Ozark Sales for Year 1: 1. The business was started when the company received $49,000 from the issue of common stock. 2. Purchased merchandise inventory of $176,000 on account. 3. Sold merchandise for $196,500 cash (not including sales tax). Sales tax of 7 percent is collected when the merchandise is sold. The merchandise had a cost of $121,500. 4. Provided a six-month warranty on the merchandise sold. Based on industry estimates, the warranty claims would amount to 5 percent of sales. 5. Paid the sales tax to the state agency on $146,500 of the sales. 6. On September 1, Year 1, borrowed $19,000 from the local bank. The note had a 6 percent interest rate and matured on March 1, Year 2. 7. Paid $5,900 for warranty repairs during the year. 8. Paid operating expenses of $55,000 for the year. 9. Paid $125,400 of accounts payable. 10. Recorded accrued interest on the note issued in transaction number 6 . d. What is the total amount of current liabilities at December 31, Year 1? (Round your intermediate calculation to the nearest dollar.)