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On January 1, 20x1, Merlin Inc. showed assets totalling $200,000 and shareholder's equity of $80,000. During the year, Merlin's assets increased by $38,000 and shareholders'

On January 1, 20x1, Merlin Inc. showed assets totalling $200,000 and shareholder's equity of $80,000. During the year, Merlin's assets increased by $38,000 and shareholders' equity increases by $11,200. What is the liabilities total for Merlin at December 31, 20x1?

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