I anticipate an extended discussion on how to best leverage our financial capital to create competitive advantage during our next board meeting. With

this in mind, l$\text{'}$d like to better understand the financial obligations of Erie. Industry experts are estimating Erie's balance sheet for the upcoming year to

show:

Total Assets of $$185,627$

Total Common Stock of $$35,980$

Cash of $$16,330$

Retained Earnings of $$52,048$

What do we expect Erie's total liabilities to be$?$

Michelle Cho

Board Member, Strategy $|$ Andrews Corporation

$$117,249$

$$81,269$

$$133,579$

$$97,599$