Current Portion of Long-Term Debt PepsiCo, Inc., reported the following information about its long-term debt in the notes to a recent financial statement in millions): Long-term debt is comprised of the following: December 31 Current Preceding Year Year Total long term-debt $33,284 $28,897 Less current portion (4,071) (5,076) Long-term debt $29,213 $23,821 a. How much of the long-term debt was disclosed as a current liability on the current year's December 31 balance sheet? b. How much did the total current liabilities change between the preceding year and the current year as a result of the current portion of long-term debt? Decrease c. If PepsiCo did not issue additional long-term debt next year, what would be the total long-term debt on December 31 of the upcoming year? Feedback Check My Words The portion due within the next 12 months is the current labit Consider only the noncurrent portion