Use the starting balance sheet, income statement, and the list of changes to answer the question.

Dansko Integrated

Balance Sheet

As of December 31, 2019

(amounts in thousands)Cash29,000Liabilities33,000Other Assets26,000Equity22,000Total Assets55,000Total Liabilities & Equity55,000

Dansko Integrated

Income Statement

January 1 to March 31, 2020

(amounts in thousands)Revenue7,100Expenses2,800Net Income4,300

Between January 1 and March 31, 2020:

1. Cash increases by $200,000

2. Other Assets decrease by $100,000

3. Paid-In Capital does not change

4. Dividends paid of $200,000

What is the value for Liabilities on March 31, 2020?

Please specify your answer in the same units as the financial statements.