Following are transactions of Gotebo Tanners, Inc., a new company, during the month of January:

  • Issued 10,000 shares of common stock for $15,000 cash.
  • Purchased land for $12,000, signing a note payable for the full amount.
  • Purchased office equipment for $1,200 cash.
  • Received cash of $14,000 for services provided to customers during the month.
  • Purchased $300 of office supplies on account.
  • Paid employees $10,000 for their first month’s salaries.


What was the total amount of Gotebo’s liabilities following these six transactions?