Montauk Oil Co. reports these account balances at December 21, 2017

Montauk Oil Co. reports these account balances at December 31, 2017 $114, ooo Accounts Payable $204, ooo Land $264, ooo Notes Payable Equipment $164, ooo $ 84,000 Cash Accounts Receivable $104, ooo Buildings $244, ooo Capital Stock $344, ooo Retained Earnings $ 74,000 On January 2, 2018, Montauk Oil collected $54,000 of its accounts receivable and paid $24,000 of its accounts payable. On January 3, 2018, total liabilities are: