The following information is for Benton Office Supplies:

Benton Office Supplies

Balance Sheet

December 31, 2020

Cash $ 65,000

Land held for investment 75,000

Land 90,000

Building $100,000 Common Stock $120,000

Less Accumulated Retained Earnings 250,000

Depreciation (20,000) 80,000 Total stockholder's equity $370,000

Trademark 70,000 Total Liabilities and

Total Assets $530,000 Stockholders' Equity $530,000

The total dollar amount of liabilities to be classified as current liabilities is

A)

$70,000

B)

$160,000

C)

$60,000

D)

$150,000