e shown below 5. Based on the following information and the post-closing trial balance prepare a balance sheet in report form at December 31 of the current lance sho urrent year. Interest was accrued on the note l The merchandise inventory is stated at cost by the LIFO method. The product warranty payable is a current liability. Vacation pay payable: Current liability Long-term liability $7,140 3,360 The unfunded pension liability is a long-term liability. Notes payable: Current liability Long-term liability $ 70,000 630,000