Required information The following formation applies to the questions displayed below! The following transactions apply to Ozark Sales for Year 1 1. The business was started when the company received $48.000 from the issue of common stock 2. Purchased equipment inventory of $176 500 on account 3. Sold equipment for $204,000 cash (not including sales tax) Sales tax of 7 percent is collected when the merchandise is sold. The merchandise had a cost of $129,000 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 4 percent of sales. 5. Paid the sales tax to the state agency on $154000 of the sales 6. On September 1 Year 1, borrowed $20,000 from the local bank. The note had a 5 percent interest rate and matured on March 1 Year 2 7. Paid $5,500 for warranty repairs during the year 8. Pald operating expenses of $54 500 for the year 9. Paid $125.800 of accounts payable 10. Recorded accrued interest on the note issued in transaction no. 6 c. What is the total amount of current liabilities at December 31 Year 1? (Round your answer to the nearest dollar amount.) Tal curs