Required information [The following information 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 $49,000 from the issue of common stock. 2. Purchased equipment inventory of $177,500 on account. 3. Sold equipment for $197,500 cash (not including sales tax). Sales tax of 8 percent is collected when the merchandise is sold. The merchandise had a cost of $122,500. 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 3 percent of sales. 5. Paid the sales tax to the state agency on $147,500 of the sales. 6. On September 1, Year 1, borrowed $20,500 from the local bank. The note had a 5 percent interest rate and matured on March 1, Year 2. 7. Paid $6,000 for warranty repairs during the year. 8. Paid operating expenses of $52,500 for the year. 9. Paid $124,800 of accounts payable. 10. Recorded accrued interest on the note issued in transaction no. 6. OZARK SALES Balance Sheet As of December 31, Year 1 Assets Cash $ 139,800 55,000 Merchandise inventory Total assets $ 194,800 Liabilities Accounts payable Sales tax payable Notes payable Warranty payable Interest payable 4,000 20,500 342 Total liabilities 24,842 Stockholders' equity Common stock $ 49,000 16,233 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 65,233 90,075 $ d. What is the total amount of current liabilities at December 31, Year 1? (Round your answer to the nearest dollar amount.) Total current liabilities