Exercise 10-25 Sarasota Corp. issued a $54,000, 9, 10-year installment note payable on January 1, 2017. Payments of $8.414 are made each January 1, beginning January 1, 2018 (6) What amounts should be reported under current liabilities related to the note on December 31, 2017 (b) What should be reported under long-term liabilities? (Round answers to decimal places, e.g. 5,275.) SARASOTA CORP. Balance Sheet (Partial) Click if you would like to Show Exercise 10-25 Sarasota Corp. issued a $54,000, 9, 10-year installment note payable on January 1, 2017. Payments of $8.414 are made each January 1, beginning January 1, 2018 (6) What amounts should be reported under current liabilities related to the note on December 31, 2017 (b) What should be reported under long-term liabilities? (Round answers to decimal places, e.g. 5,275.) SARASOTA CORP. Balance Sheet (Partial) Click if you would like to Show