Question 8 options:

XYZ Company had total assets of $500,000 and total liabilities of $200,000 at January 1, 2016. At December 31, 2016, XYZ Company had total equity of $400,000. XYZ Company reported a return on investment (ROI) of 16% for 2016 and a net income of $93,000 during 2016. Calculate XYZ Company's total liabilities at December 31, 2016. Do not use decimals in your answer.