Montauk Oil Company reports these account balances at December 31, Year 1: Accounts Payable Land Notes Payable Equipment Cash Accounts Receivable Buildings Capital Stock Retained Earnings $ 106,000 196,000 256,000 156,000 76,000 96,000 236,000 336,000 66,000 On January 2, Year 2, Montauk Oil collected $46,000 of its accounts receivable and paid $16,000 of its accounts payable. On January 3, Year 2, total liabilities are: Multiple Choice $362,000. O $346,000. O $296,000 $66,000