Based on your understanding of the different items reported on the balance sheet and the information they provide, which statement regarding Cute Camel Woodcraft Company$$s balance sheet is consistent with U$.$S$.$ Generally Accepted Accounting Principles $($GAAP$)?$

The company$$s debts are listed in the order in which they are to be repaid.

The company$$s debts should be listed from those carrying the largest balance to those with the smallest balance.

The company$$s debts should be listed in order of their liquidity.