The following information is available from various budgets for the current period: Accounts Payable Salaries Payable Notes Payable Net Income Schedule of cash payments for purchases $40,000 Schedule of cash payments for selling and administrative expenses Cash budget 4,000 35,000 Budgeted income statement 72,000 The following balances are available from the balance sheet at the end of the previous year: Retained Earnings $11,000 What would be the amount of total liabilities on the budgeted balance sheet? OA. $162,000 B. $83,000 c. $151,000 D. $79,000