The following information relates to Smoothie Incorporated.

Beginning assets = 200,000

Beginning liabilities = 124,000

Beginning equity = 76,000

Sales during the year = 617,000

Expenses (including taxes) during the year = 561,000

Dividends during the year = 14,000

Proceeds from the issuance of stock = 35,000

Ending assets = 285,000

Using the accounting equation, what is the ending balance of liabilities?