the following transactions apply to ozark sales

Required information The following information applies to the questions displayed below The following transactions apply to Ozark Sales for 2018: 1. The business was started when the company received $50,000 from the issue of common stock. 2. Purchased equipment inventory of $380,000 on account. 3. Sold equipment for $510,000 cash (not including sales tax). Sales tax of 8 percent is collected when the merchandise is sold. The merchandise had a cost of $330,000 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 2 percent of sales 5. Paid the sales tax to the state agency on $400,000 of the sales. 6. On September 1,2018, borrowed $50,000 from the local bank. The note had a 4 percent interest rate and matured on March 1, 2019. 7. Paid $6,200 for warranty repairs during the year. 8. Paid operating expenses of $78,000 for the year. 9. Paid $250,000 of accounts payable. 10. Recorded accrued interest on the note issued in transaction no. 6 c. what is the total amount of current liabilities at December 31, 20187 (Do not round intermediate calculations and round your answer to nearest whole dollar.)