The following transactions apply to Ozark Sales for Year 1:

1. The business was started when the company received $49,500 from the issue of common stock.
2. Purchased equipment inventory of $175,500 on account.
3. Sold equipment for $200,500 cash (not including sales tax). Sales tax of 6 percent is collected when the merchandise is sold. The merchandise had a cost of $125,500.
4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 4 percent of sales.
5. Paid the sales tax to the state agency on $150,500 of the sales.
6. On September 1, Year 1, borrowed $21,000 from the local bank. The note had a 6 percent interest rate and matured on March 1, Year 2.
7. Paid $6,000 for warranty repairs during the year.
8. Paid operating expenses of $53,500 for the year.
9. Paid $124,300 of accounts payable.
10. Recorded accrued interest on the note issued in transaction no. 6.

A. Please prepare the statement of cash flows for Year 1.

B. What is the total amount of current liabilities at December 31, Year 1?