Exercise 9-1 (Algo) Classifying liabilities LO C1 The following Items appear on the balance sheet of a company with a one-year operating cycle. Identlfy each Item as a current llability a long-term llability, or not a llability. Exercise 9-1 (Algo) Classifying liabilities LO C1 The following Items appear on the balance sheet of a company with a one-year operating cycle. Identify each Item as a current Ilability, a long-term llability, or not a llability