5. Based on the following information and the post-closing trial balance shown below prepare a balance sheet in report form at December 31 of the current year The merchandise inventory is stated at cost by the LIFO method. The product warranty payable is a current liability Vacation pay payable: Current liability Long-term liability $7,140 3,360 2 The unfunded pension liability is a long-term liability Notes payable: Current liability Long-term liability 70,000 630,000