Following is a list of account balances of Wilson Mowing Service as of December 31 of the first year of operation: 
At the end of the year, what is the amount of total liabilities?
Definitions:
Household Spending
This refers to the total amount of money spent by households in an economy on goods and services over a particular period of time.
Net Exports
The value of a country's total exports minus its total imports, a crucial component of the gross domestic product.
Crowding Out
An economic phenomenon where increased government spending reduces private sector investment or consumption due to higher interest rates.
Interest Rate
The percentage charged on a loan or paid on savings, representing the cost of borrowing or the gain on saved funds.
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