X Company, a merchandiser, started business on June 1. The following were June transactions:

Received $83,000 from a group of investors.

Bought $8,212 of merchandise, $3,540 for cash and $4,672 on account.

Sold merchandise for $20,100, of which $15,453 was for cash and $4,647 was on account; Cost of Goods Sold was 52% of sales.

Paid $3,931 to suppliers for merchandise previously bought on account.

Paid wages of $5,650.

Collected $2,995 from customers on account.

Paid $5,400 for rent in advance.

4. What were total liabilities on June 30?