Patton Company started 2020 with liabilities of $21,000 and retained earnings of $5,000. Patton had gone into business in 2004 when it issued 100 shares of stock for a total of $40,000. No more stock has been issued since that time. Assets increased during 2020, and on December 31, 2020, they were $10,000 more than they had been at December 31, 2019. The company earned $12,000 in net income during 2020 and paid no dividends. How much were liabilities at the end of 2020? $32,000 $19,000 $34,000 $56,000 None of the above