Selected liability items for Waugh Corporation at December 31, 2014, follow. Prepare the liabilities section of Waugh's balance sheet.

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Accounts payable Bonds payable, due 2028 $ 48,000 Income tax payable Notes payable, (net of current portion) Interest payable $ 8,000 Current portion of notes payable Current portion of lease liability 035,000 25,000 25,000 145,000 26,000 75,000 asiabiliiy