Answer:
Assuming the company's balance sheet is only comprised of the given items, the amount of liabilities will be $44,000
Explanation:
We apply the Basic Accounting Equation to show the problem.
We have:
Total Assets = Total Liabilities + Total Equity <=> Total Liabilities = Total assets - Total equity.
In which:
Total asset = Cash + Account Receivables + Equipment = 28,000 + 34,000 + 58,000 = $120,000;
Total equity is given at $76,000
=> Total Liabilities = $120,000 - $76,000 = $44,000.
So, the answer is $44,000.
