(solution) At the beginning of 2013, Huffer Corporation had total assets of

(solution) At the beginning of 2013, Huffer Corporation had total assets of

At the beginning of 2013, Huffer Corporation had total assets of $222,100, total liabilities of $84,200, common stock of $75,300, and retained earnings of $62,600. During 2013, Huffer had net income of $42,750, paid dividends of $11,900, and issued additional common stock for $12,300. Huffer’s total assets at the end of 2013 were $222,100.

Required:

Calculate the amount of liabilities that Huffer must have at the end of 2013 in order for the balance sheet equation to balance.