What is the total amount of current liabilities at December 31, Year 1? (Round your answer to the nearest whole dollar.

Please help! Zeros are where I don't know what to put, thank you!

The following transactions apply to Ozark Sales for Year 1: 1. The business was started when the company recelved $48,000 from the issue of common stock. 2. Purchased equipment inventory of $177,000 on account. 3. Sold equipment for $205,500 cash (not including sales taxi). Sales tax of 6 percent is collected when the merchandise is sold. The merchandise had a cost of $130,500. 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 4 percent of sales. 5. Paid the sales tax to the state agency on $155,500 of the sales. 6. On September 1, Year 1, borrowed $19,000 from the local bank. The note had a 6 percent interest rate and matured on March 1, Year 2. 7. Paid $5,900 for warranty repairs during the year. 8. Paid operating expenses of $54,500 for the year. 9. Paid $125,700 of accounts payable. 0. Recorded accrued interest on the note issued in transaction no. 6 . Required a. Record the given transactions in a horizontal statements model. b. Prepare the income statement, balance sheet, and statement of cash flows for Year 1. c. What is the total amount of current liabilities at December 31, Year 1? Answer is not complete. on by entering your answers in the tabs below. ctions in a horizontal statements model. (Enter any decreases to account balances and cash outflows with a minus sign. In the Cash Flow column, indicate pperating activity (OA), an investing activity (IA), or a financing activity (FA), and leave the cell blank if there is no effect. Do not round intermediate pour answers to the nearest whole dollar amounts. Not all cells will require entry.) Prepare the income statement for Year 1. (Round your answers \begin{tabular}{|l|r|r|r|} \hline \multicolumn{2}{|c|}{ OZARK SALES } \\ \hline \multicolumn{2}{|c|}{ Income Statement } \\ \hline For the Year Ended December 31, Year 1 \\ \hline Cost of goods sold & & & \\ \hline Gross margin & & & \\ \hline Expenses & & & \\ \hline Operating expenses & & & \\ \hline Warranty expenses & & \\ \hline \multicolumn{2}{|l|}{ Total operating expenses } & & \\ \hline Operating income & & & \\ \hline Notes receivable & & \\ \hline & & & \\ \hline Net income & & \\ \hline \end{tabular} OZARK SALES Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities \begin{tabular}{|l|c|c|c|} \hline Inflow from customers & & $205,000 & \\ \hline Inflow from sales tax & & & \\ \hline Outflow to purchase inventory & & (155,500) & \\ \hline Outflow for sales tax & & & \\ \hline Outflow for expenses & & & \\ \hline & & & $49,500 \\ \hline Net cash flow from operating activities & & 0 \\ \hline Cash flows from investing activities & & 19,000 & \\ \hline Cash flows from financing activities & & \\ \hline Inflow from stock issue & & \\ \hline Inflow from loan & & & 67,000 \\ \hline & & & \\ \hline Net cash flows from financing activities & & $116,500 \\ \hline Net change in cash & & \\ \hline Plus: Beginning cash balance & & \\ \hline Ending cash balance & & & \\ \hline \hline \end{tabular}