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 recelved $49,500 from the issue of common stock. 2. Purchased equipment inventory of $175,500 on account. 3. Sold equipment for $210,000 cash (not including sales tax). Sales tax of 8 percent is collected when the merchandise is sold. The merchandise had a cost of $135,000. 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 5 percent of sales. 5. Paid the sales tax to the state agency on $160,000 of the sales. 6. On September 1, Year 1, borrowed $21,000 from the local bank. The note had a 6 percent interest rate and matured on March 1, Year 2. 7. Paid $5,400 for warranty repairs during the yeat. 8. Paid operating expenses of $53,500 for the year. 9. Pald $125,000 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 ? Note: Round your answer to the nearest dollar amount