Santana, Inc. reports the following liabilities (in thousands) on its January 31, 2014, balance sheet and notes to the financial statements.

Accounts payable $4,263.9 Mortgage payable $6,746.7 Accrued pension liability 1,115.2 Operating leases 1,641.7 Unearned rent revenue 1,058.1 Notes payable (due in 2017) 335.6 Bonds payable 1,961.2 Salaries and wages payable 858.1 Current portion of Notes payable (due in 2015) 2,563.6 mortgage payable 1,992.2 Unused operating line of credit 3,337.6 Income taxes payable 265.2 Warranty liability—current 1,417.3 Instructions

(a) Identify which of the above liabilities are likely current and which are likely long-term.

List any items that do not fit in either category. Explain the reasoning for your selection.

(b) Prepare the liabilities section of Santana’s balance sheet as at January 31, 2014.

AppendixLO2