Current portion of long-term debt OBJ. 1 PepsiCo, Inc., reported the following information about its long-term debt in the notes to a recent financial statement (in millions):

Long-term debt is comprised of the following:

December 31 Current Year Previous Year Total long term-debt $28,359 $26,773 Less current portion (4,815) (6,205)

Long-term debt $23,544 $20,568

a. How much of the long-term debt was disclosed as a current liability on the current year’s December 31 balance sheet?

b. How much did the total current liabilities change between the preceding year and the current year as a result of the current portion of long-term debt?

c. If PepsiCo did not issue additional long-term debt next year, what would be the total long-term debt on December 31 of the upcoming year?