Siam Traders

Balance Sheet

As of January $3,2023$

$($amounts in thousands$)$

Cash $9,100$ Accounts Payable $1,900$

Accounts Receivable $4,400$ Debt $2,400$

Inventory $4,800$ Other Liabilities $600$

Property Plant & Equipment $15,600$ Total Liabilities $4,900$

Other Assets $2,600$ Paid$-$In Capital $6,900$

Retained Earnings $24,700$

Total Equity $31,600$

Total Assets $36,500$ Total Liabilities & Equity $36,500$

Transfer the journal entries to T$-$accounts for the transactions below, compute closing amounts for the T$-$accounts, and construct a final balance sheet to answer the question.

Journal amounts in thousands

Date Account and Explanation Debit Credit

Jan $4$ Property, Plant & Equipment $43$

Cash $43$

Paid cash for machine

Jan $5$ Cash $11$

Accounts Receivable $11$

Received customer payment

Jan $6$ Cash $14$

Inventory $11$

Retained Earnings $3$

Sold and delivered product to customer

Jan $7$ Cash $70$

Paid$-$In Capital $70$

Issued stock

Jan $8$ Accounts Payable $8$

Cash $8$

Paid money owed to supplier

Jan $9$ Cash $55$

Debt $55$

Borrowed money from bank

Jan $10$ Inventory $17$

Accounts Payable $17$

Bought manufacturing supplies on credit

What is the final amount in Total Equity?

Please specify your answer in the same units as the balance sheet $($i$.$e$.,$ enter the number from your updated balance sheet$).$