Midland company ends its first year with current assets $=500,$ Property plant and equipment $=1,500,$ and accumulated depreciation $=50.$ The company also reports total equity $($common stock $+$ retained earnings$)=1,000.$ What was the value of total liabilities?

Midland company ends its first year with current assets $=500,$ Property plant and equipment $=1,500,$ and accumulated depreciation $=50.$ The company also reports total equity $($common stock $+$ retained earnings$)=1,000.$ What was the value of total liabilities?