At December 31, Year 30, a company's liabilities include the following: 1. $18 million of 6% bonds were issued for $18 million on May 31, Year 8. The bonds mature on May 31, Year 38, but bondholders have the option of calling (demanding payment on) the bonds on May 31, Year 31. However, the option to call is not expected to be exercised, given prevailing market conditions. 2. $22 million of 5% notes are due on May 31, Year 31. A debt covenant requires the company to maintain current assets at least equal to 183% of its current liabilities. On December 31, Year 30, the company is in violation of this covenant. The company obtained a waiver from the bank until June of Year 31, having convinced the bank that the company's normal 2 to 1 ratio of current assets to current liabilities will be reestablished during the first half of Year 31. 3. $15 million of 8% bonds were issued for $15 million on August 1, Year 1. The bonds mature on July 31, Year 31. Sufficient cash is expected to be available to retire the bonds at maturity. Required: What portion of each liability is reported as a current liability and as a noncurrent liability? Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Debt 1. 2. 3. Classification Million(s)