BAM BAM BIGELOW Company is preparing its December 31, 2018 statement of financial position. The following items may be reported as either current or non-current liability. On December 15, 2018, BAM BAM BIGELOW declared a cash dividend of P2.50 per share to shareholders of record on December 30. The dividend is payable on January 15, 2019. BAM BAM BIGELOW has issued 1,000,000 ordinary shares, of which 50,000 shares are held in the treasury. On December 31,2018,BAM BAM BIGELOW declared a 10% bonus issue to shareholders of record on January 15, 2019. The dividends will be distributed on January 31, 2019. BAM BAM BIGELOWs ordinary shares have a par and market value of P10 and P38, respectively. At December 31, bonds payable of P10,000,000 are outstanding. The bonds pay 12% interest every September 30 and mature in installments of P2,500,000 every September 30, beginning September 30, 2019. At December 31, 2017, customer advances were P12,000,000. During 2018, BAM BAM BIGELOW collected P30,000,000 of customer advances and advances of P17,000,000 were yet to be earned. At December 31, 2018, retained earnings appropriated for future inventory losses amounted to P1,500,000 1. How much of the foregoing is classified as current liabilities? A. 30,175,000 B. 25,785,000 C. 23,125,000 D. 22,175,000 SHOW SOLUTION