16. On November 1, 2011, The Mane Event, Inc. borrowed $40,000 from a local bank for 24 months at 11% annual interest. Both principal and interest are due when the note matures. Which statement below is TRUE? (Points : 2) 1. The transaction represents a financing activity. 2. The note is a long-term liability on the balance sheet at Dec. 31, 2012. 3. The note is a current-term liability on the balance sheet at Dec. 31, 2011. 4. The transaction represents an investing activity