McCoy Company provides plumbing services. The company is a sole proprietorship. Transactions during the first year of operations are provided below.

a)	The owner, Sharon McCoy, contributed $10,000 cash in exchange for capital.

b)	Paid $1100 cash for equipment to be used for plumbing repairs.

c)	Borrowed $12,000 from a local bank and deposited the money in the checking account.

d)	Paid $300 rent for the year.

e)	Purchased $200 of office supplies by cash.

f)	Completed a plumbing repair project for a local lawyer and received $3200 cash.

Calculate the amount of total liabilities at the end of the first year.

		$3200
		$10,000
		$12,000
		$20,900