Use the starting balance sheet and the list of changes to create an updated balance sheet and to answer the question.

Gulf Shipping Company Balance Sheet As of December 31, 2022 (amounts in thousands)
Cash	3,800	Liabilities	2,200
Other Assets	2,700	Equity	4,300
Total Assets	6,500	Total Liabilities & Equity	6,500

Between January 1 and March 31, 2023:

1. Cash decreases by $100,000 2. Other Assets do not change 3. Equity increases by $400,000

What is the value for Liabilities on March 31, 2023?

Note: Account change amounts are provided in dollars but the balance sheet units are thousands of dollars.

Please specify your answer in the same units as the balance sheet (i.e., enter the number from your updated balance sheet).