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At the beginning of 2009, KJ Corporation had total assets of $553,700, total liabilities of $261,800, common stock of $139,000, and retained earnings of $152,900. During 2009, KJ had net income of $256,200, paid dividends of $71,100, and sold additional common stock for $94,000. KJ's total assets at the end of 2009 were $721,800.
Required:
Calculate the amount of liabilities that KJ must have at the end of 2009 in order for the balance sheet equation to balance.
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