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What must the total liabilities be next year

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The Baldwin company currently has the following balances on their balance sheet:

Assets                             $256,911

Common Stock                   $61,313

Retained earnings               $34,773

Question 1: Suppose next year the Baldwin Company generates $20,000 in net profit, pays $10,000 in dividends, assets change to $151,000, and common stock remains unchanged. What must their total liabilities be next year?

Option 1: $24,914

Option 2: $160,825

Option 3: $106,227

Option 4: $44,914

Reference no: EM132557672

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