McCoy Corporation provides plumbing services. Transactions during the first year of operations are provided below. a) Received $12,000 cash and issued common stock to Sharon McCoy. b) Paid $1,000 cash for equipment to be used for plumbing repairs. c) Borrowed $13,000 from a local bank and deposited the money in the checking account. d) Paid $100 rent for the year. e) Purchased $300 of office supplies by cash. f) Completed a plumbing repair project for a local lawyer and received $3,500 cash. Calculate the amount of total liabilities at the end of the first year. A. $3,500 B. $13,000 C. $24,000 D. $12,000