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Nippon Technology Balance Sheet As of January 3, 2019 (amounts in thousands) Cash 13,700 Accounts Payable 2,000 Accounts Receivable 3,200 Debt 3,600 Inventory 5,100 Other

Nippon Technology Balance Sheet As of January 3, 2019 (amounts in thousands)
Cash 13,700 Accounts Payable 2,000
Accounts Receivable 3,200 Debt 3,600
Inventory 5,100 Other Liabilities 900
Property Plant & Equipment 15,400 Total Liabilities 6,500
Other Assets 800 Paid-In Capital 7,200
Retained Earnings 24,500
Total Equity 31,700
Total Assets 38,200 Total Liabilities & Equity 38,200

Transfer the journal entries to T-accounts for the transactions below, compute closing amounts for the T-accounts, and construct a final balance sheet to answer the question.

Journal amounts in thousands

Date Account and Explanation Debit Credit
Jan 4 Cash 12
Inventory 10
Retained Earnings 2
Sold and delivered product to customer
Jan 5 Property, Plant & Equipment 45
Cash 45
Paid cash for machine
Jan 6 Cash 85
Paid-In Capital 85
Issued stock
Jan 7 Cash 67
Debt 67
Borrowed money from bank
Jan 8 Inventory 17
Accounts Payable 17
Bought manufacturing supplies on credit
Jan 9 Accounts Payable 7
Cash 7
Paid money owed to supplier
Jan 10 Cash 11
Accounts Receivable 11
Received customer payment

What is the final amount in Total Liabilities & Equity?

Please specify your answer in the same units as the balance sheet.

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