Use the following information to answer this question:

End of year 2018

Cash $10,000

Accounts Receivable 15,000

Inventory 35,000

Fixed Assets, gross 55,000

Accumulated Depreciation 15,000

Fixed Assets, net 40,000

Accounts Payable 25,000

Notes Payable 5,000

Long-Term Debt 20,000

Common Equity 50,000

• The firm currently uses straight-line depreciation.
• No fixed assets are expected to be purchased or sold.
• Current assets and accounts payable vary directly with sales.
• Notes payable will be paid off in the year 2019.
• Depreciation expense in 2014 was $2,000.
• Sales are expected to grow by 50% in 2019.
• All net income is paid out in dividends and no new stock or bonds will be issued or retired.

Calculate total liabilities for the end of the year 2019.

Group of answer choices

$128,000

$57,500

$107,500

$58,000