Assume that the Florence Plastics Inc, a manufacturer of plastic pipe for the construction industry and located in Red Deer, Alberta, faced the following ability situations at June 30, 2017, the end of the company's fiscal year. Show how Florence Plastics ine would report these libises on its balance sheet at June 30, 2017 Click on the icon to view the situations.) a. Long-term debt totals 526 million and is payable in annual installment of $2.4 milion each. The interest rate on the debt is 2%, and the interest is paid each December 31. (Enter all amounts in whole dollars. If a box is not used in the table, leave the box empty, do not select a label or enter a zero.) Liabilities at June 30, 2017: Current loc Current portion of long-term debt inforest payable Long-term Babies Long-term deb b. Salary expense for the last payrol period of the year was 592.500 of this amount, employees' income tax of 522.000 was withheld, and other withholdings and employee benefits were 56,500. These payroll amounts will be paid in early July. (Enter all amounts in whole dollars. If a box is not used in the table, leave the box empty do not select a label or enter a zero. Liabilities at June 30, 2017: Current les Salary payable Income taxes payable Other employee withings and benere per le Largo Babies c. Since the last reporting period, GST 5320.000 had been collected, and ITOs of 5104,000 had been earned. (Enteral amounts in whole dollars. Ia box is not used in the table, leave the box empty, do not select a label or enter a zero.) Liabilities at June 30, 2017 Current les GST payable Long-term labies confiscal-year 2017 sales of 533 million, management estimates warranty expense of 5%. One year ago, at June 30, 2016. Essmated Warranty Liability stood at $120,000. Warranty payments were $275,000 curing the year ended June 30, 2017. (Enter all amounts in whole dollars. If a box is not used in the table, leave the box empty, do not select a label or enter a zero) Liabilities at June 30, 2017 Current des Situations Estimated warranty payable Long-term labies Long-term debt totals 536 million and is payable in anual instalments of 52.4 milion each. The interest rate on the debt is 8%, and the interest is paid each December 31 b. Salary expense for the last payroll period of the year was 592,500 of this amount, employees' income tax of 522,000 was withheld, and other withholdings and employee benefits were $6.500. These payroll amounts will be paid in early July e Since the last reporting period, OST of 5320.000 had been collected and ITCs of $104,000 had been med d. On soal-year 2017 sales of 533 milion, management estimates warranty expense of 5%. One year ago, at June 30, 2016. Estimated Warranty Liability stood at $120,000. Warranty payments were $275.000 during the year ended June 30, 2017 Print Done