Reporting Liabilities on the Balance Sheet
The following list of accounts is taken from the adjusted trial balance of Goforth Company.     

Required:
Prepare the liabilities section of the company’s balance sheet.

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Accounts Payable Notes Payable (due in 6 months) $45,000 24,000 Income Taxes Payable 18,000 Unearned Sales Revenue 27,500 Notes Payable (due in 2 years) 40,000 Prepaid Insurance 6,200 Accounts Receivable 53,000 Current Portion of Mortgage Payable 12,300 Mortgage Payable (due beyond 1 year) 93,000 Retained Earnings 91,400 Property Taxes Payable 8,700 Salaries & Wages Payable. 15,200 Sales Tax Payable 3,100