Michael Company reports the following account balances at the end of the first year of operations: 
What are total liabilities at the end of the first year?
Definitions:
Smartphone
A Smartphone is a mobile phone with advanced features, including internet access, touch screen interface, and numerous applications.
A social networking platform that allows users to connect, share, and engage with content online.
Recentering Process
A psychological or developmental shift wherein individuals realign their perspective and priorities, typically in response to new life stages or challenges.
Registered Nurse
A healthcare professional who has completed the necessary education and licensure to provide patient care.
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