Torche Corporation

Balance Sheet

As of January 24, 2020

(amounts in thousands) Cash 14,700 Accounts Payable 2,400 Accounts Receivable 4,800 Debt 3,700 Inventory 3,800 Other Liabilities 5,000 Property Plant & Equipment 15,800 Total Liabilities 11,100 Other Assets 900 Paid-In Capital 6,000 Retained Earnings 22,900 Total Equity 28,900 Total Assets 40,000 Total Liabilities & Equity 40,000

Record the transactions in a journal, transfer the journal entries to T-accounts, compute closing amounts for the T-accounts, and construct a balance sheet to answer the question.

Jan 25. Receive payment of $12,000 owed by a customer

Jan 26. Buy $15,000 worth of manufacturing supplies on credit

Jan 27. Purchase equipment for $44,000 in cash

Jan 28. Issue $80,000 in stock

Jan 29. Pay $4,000 owed to a supplier

What is the final amount in Total Liabilities & Equity?