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During January 2018, the first month of operations, a consulting firm had following transactions: Issued common...

During January 2018, the first month of operations, a consulting firm had following transactions:

  1. Issued common stock to owners in exchange for $22,000 cash.

  2. Purchased $5,500 of equipment, paying $1,650 cash and signing a promissory note for $3,850.

  3. Received $9,900 in cash for consulting services performed in January.

  4. Purchased $1,650 of supplies on account; all of the supplies were used in January.

  5. Provided consulting services on account in the amount of $17,600.

  6. Paid $825 on account.

  7. Paid $3,300 to employees for work performed during January.

  8. Received a bill for utilities for January of $3,750; the bill remains unpaid.


What is the amount to be reported as total liabilities on the balance sheet at the end of January?

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