can someone help me

Ames, Inc. has $500,000 of notes payable due June 15. year 3 . Ames signed an agreement on December 1. year 2, to borrow up to $500,000 to refinance the notes payable on a long -term basis with no payments duc until year 4. The financing agreement stipulated that borrowings may not exceed 80% of the value of the collateral Ames was providing. At the date of issuance of the December 31 . year 2 financial statements, the value of the collateral was $600,000 and is not expected to fall below this amount during year 3 , In Ames Inc., December 31, year 2 balance sheet, the obligation for these notes payable should be classified as Short-term$500,000LonBterm$0 $100,000$400,000 5 20,000$480,000 50$500.000