The correct answer is $1,850. Please explain how to do it clearly with the steps.

Jackson Company acquires 100% of the stock of Clark Corporation on January 1, 2020, for $4,100 cash. As of that date Clark has the following trial balance: Credit Debit $ 500 600 900 1,600 1,000 900 Cash Accounts receivable Inventory Buildings (net) (5 year life) Equipment (net) (2 year life) Land Accounts payable Long-term liabilities (due 12/31/22) Common stock Additional paid-in capital Retained earnings Total $ 400 1,900 1,000 700 1,500 $5,500 $5,500 Net income and dividends reported by Clark for 2020 and 2021 follow: 2020 2021 Net income $120 $140 Dividends 50 40 The fair value of Clark's net assets that differ from their book values are listed below: Buildings Equipment Land Long-term liabilities Fair Value $1,200 1,350 1,300 1,750 Any excess of consideration transferred over fair value of net assets acquired is considered goodwill with an indefinite life. Compute the amount of Clark's long-term liabilities that would be reported in a December 31, 2021, consolidated balance sheet