es une company's debt level at the end oI ZU24 Will make the company appear LOO TISKY to auditional tenders. The balance of the hole a the end of 2024 is $2,614,023. By the end of 2025, the 12 monthly payments will reduce the balance by an additional $452,482. Separate from the note, the company has the following amounts at the end of 2024: current assets of $3,050,000; current liabilities c $2,350,000; total equity of $4,400,000. Jim Trost, the VP of finance, tells board members that he plans to classify the full balance of the note at the end of 2024 as long-term because the full length of the note is six years. He explains that lenders will be more willing to let the company borrow and will offer lower interest rate if the company reports fewer current liabilities. Plus, he plans to Tell lenders that there is no problem with long-term solvency because the company long-term profits will be used to pay its long-term debt. Required: 1-a. Understand the reporting effect: By how much does Jim's decision affect