Madison Company issued an interest-bearing note payable with a face amount of $11,400 and a stated interest rate of 8% to the Metropolitan Bank on August 1, 2016. The note carried a one-year term.

The amount of cash flow from operating activities on the 2016 statement of cash flows would be:

$912.

$380.

$11,400.

zero.

Based on this information alone, the amount of total liabilities appearing on Madison's 2016 balance sheet would be:

$11,932

$11,780

$12,312

$11,400