At the beginning of April, Baugh Health Partners’ assets tot…
At the beginning of April, Baugh Health Partners’ assets totaled $250,000 and shareholders’ equity totaled $165,000. During April, the following summarized transactions occurred: 1. Additional shares of $10 par-value common stock were sold for $25,000 cash. 2. Land costing $105,000 was purchased using $15,000 cash and by signing an $90,000 long-term note payable. 3. Short-term investments costing $12,000 were purchased using cash. 4. $5,000 was given to an employee as a loan; the employee signed a 3 month note in exchange for the loan. The employee has not repaid any of the loan yet. How much are Baugh’s total liabilities at the end of April?