For the following independent transactions, determine the amount of current and long-term liabilities. Transaction Current long-Term liability liability 1. On December 31, 2018, Frankie Flowershopborrowed $300,000 from the bank. The entire amount is due on December 30, 2019. 2. KLM Company purchased a small building at a cost of $190,000. The down payment is $100,000. The remaining balance is payablein three years with an annual payment of $30,000, starting next year. 3. During June 2018, a business owner obtained an interest-freeloan fromafinancing company. The loan amount was $60,000. The agreed terms of payment is four annual installments of$15,000. 4. Abusiness owner borrowed $20,000 from his close friend for a business expansion. They both signedan agreement that the full payment will be made after two years