Presented below is certain information pertaining to Rivera Company.

Assets, January 1, 2020: $ 300,000

Assets, December 31, 2020: $265,000

Liabilities, January 1: $175,000

Common stock, December 31: $110,000

Retained earnings, December 31: $52,000

Common stock issued during the year: $10,000

Dividends declared during the year: $18,000

Given this information, the end of year liabilities equal