the following transactions apply to ozark sales for year 1: the business was started when the company received $49,000 from the issue of common stock. purchased merchandise inventory of $176,500 on account. sold merchandise for $209,500 cash (not including sales tax). sales tax of 7 percent is collected when the merchandise is sold. the merchandise had a cost of $134,500. provided a six-month warranty on the merchandise sold. based on industry estimates, the warranty claims would amount to 5 percent of sales. paid the sales tax to the state agency on $159,500 of the sales. on september 1, year 1, borrowed $21,500 from the local bank. the note had a 6 percent interest rate and matured on march 1, year 2. paid $5,800 for warranty repairs during the year. paid operating expenses of $55,000 for the year. paid $125,000 of accounts payable. recorded accrued interest on the note issued in transaction number 6. d. what is the total amount of current liabilities at december 31, year 1?