13. On December 31, 2019, Hot Pocket Company had $4,000,000 outstanding short-term debt due March 2, 2020. To pay for the debt, the company issued 600,000 shares of its common stock with $4 market value. The company also has the intent and ability to refinance $600,000 by March 2, 2020 due 2 years from now. The rest was paid in cash by March 2, 2020. What amount is considered current and considered noncurrent on the 12/31/2019 balance sheet? a. Current: $2,800,000 and Noncurrent: $1,200,000 b. Current: $1,600,000 and Noncurrent: $2,400,000 c. Current: $4,000,000 and Noncurrent: $600,000 d. Current: $1,000,000 and Noncurrent: $3,000,000 14. Which of the following is a current liability? a. A debt maturing currently, which is to be paid with cash in the following period. b. A debt maturing currently, which is to be retired with proceeds from a new bond issue. C. A debt maturing currently, which is to be converted into common stock. d. None of these answers are correct. Use the following information to answer Questions 15 & 16. On 12/31/19, Mini Cooper decided to purchase 100% of Water Color Inc for $100,000 so that it could change the color of the new 2020 mini coopers. The following info is from Watercolor Inc.'s Financials: Balance Sheet as of 12/31/19: Fair Value as of 12/31/19: Total Assets Fair value of Net Assets $24,000 $45,000 15. What amount of Goodwill does Mini Cooper report on its books due to this transaction? a. $ 76,000 b. $ 55,000 c. $ 45,000 d. $ 100,000 16. What amount would be amortized for 2019 on the Goodwill account? a. $0 b. $2,270 c. $ 21,000 d. $ 24.000