On January 1, 2019, Palk Corp. and Spraz Corp. had condensed balance sheets as follows: Palk Corp. Spraz Corp. Current assets $ 99,000 $ 28,000 Noncurrent assets 125,000 56,000 Total assets 224,000 84,000 Current liabilities Long-term debt Stockholders' equity Total liabilities and stockholders' equity 42,000 14,000 70,000 112,000 70,000 $224,000 $ 84,000 On January 2, 2019, Palk borrowed the entire $84,000 it needed to acquire 80% of the outstanding common shares of Spraz. Shares of Spraz are not actively traded on the market. The loan was to be paid in ten equal annual principal payments, plus interest beginning December 31, 2019. The excess consideration transferred over the underlying book value of the acquired net assets was allocated 60% to inventory and 40% to goodwill. What are the total consolidated current liabilities at January 2, 2019? Multiple Choice $64,400. $53,200. $70,000. $42,000. $56,000