As the financial statement date of December 31, 2025, the liabilities outstanding of Pasco Corporation included the following: 1. Cash dividends oe common stock, \$50,000, payable on Jahuary 15, 2026. 2 Noce payable to Wabaso State Bank, $470,000, due January 20,2026. 3. Serial bonds, $1,800,000, of which $450,000 mature during 2026 . 4. Note payable to Orfando National Bank, 5300,000 , due January 27, 2026. The following transactions occurred early in 2026 : january 15: The cash dividends on common stock were paid. January 20: The note paryable to Wabaso State Bank was paid. fanuary 25: The corporation entered into a financing apreement with Wabaso State Bank, enabling it to borrow up to $500.000 at any sime through the end of 2026 . Amcuns borrowed under the agreement would bear interest an 1% above the bank's prime rate and would mature 3 years from the date of the loan. The corporation immediately borrowed $400, 000 to replace the cash used in paying its fanuary 20 note to the bank. January 26: 40,000 shares of common stock were issued for $350,000,$300,000 of the proceeds was used to liquidate the note payable to Orlando National Bank. February 1: The financial statements for 2025 were issued. Instructions Prepare a partial balance sheet for Pasco Corporation, showing the manner in which the above liabilties should be presented at December 31, 2025. The liablities should be properly classified between current and long term, and sppropriate note disclosure should be included