Gulf Shipping Company

Balance Sheet

As of March 11, 2019

(amounts in thousands) Cash 14,300 Accounts Payable 1,900 Accounts Receivable 4,100 Debt 3,200 Inventory 5,800 Other Liabilities 4,000 Property Plant & Equipment 14,800 Total Liabilities 9,100 Other Assets 700 Paid-In Capital 7,700

Retained Earnings 22,900

Total Equity 30,600 Total Assets 39,700 Total Liabilities & Equity 39,700 Use T-accounts to record the transactions below, which occur on March 12, 2019, close the T-accounts, and construct a balance sheet to answer the question.

1. Sell, deliver, and receive payment of $25,000 for service

2. Consume good or service and pay expense of $1,000

3. Sell product for $30,000 in cash with historical cost of $24,000

What is the final amount in Total Liabilities & Equity?

Please specify your answer in the same units as the balance sheet.