Q: Use the starting balance sheet and the list of changes to create an updated balance sheet and to answer the question. Gulf Shipping Company Balance Sheet As of December 31, 2019 (amounts in thousands) 3,800 Liabilities 2,700 Equity 6,500 Total Liabilities & Equity Cash 2,200 4,300 Other Assets Total Assets 6,500 Between January 1 and March 31, 2020: 1. Cash decreases by $100,000 2. Other Assets do not change 3. Equity increases by $400,000 What is the value for Liabilities on March 31, 2020? Please specify your answer in the same units as the balance sheet. Show navigation tips