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In the audit of Atlanta Corporations financial statements at December 31, 2025, the chief accountant of the staid corporation provided the following information: Notes payable:

In the audit of Atlanta Corporations financial statements at December 31, 2025, the chief accountant of the staid corporation provided the following information:

Notes payable:

Arising from purchase of goods

304,000

Arising from 5 year-bank loans, on which marketable securities valued at P600,000 have been pledged as security, P400,000 due on June 30, 2026; P100,000 due on Dec. 31, 2026

500,000

Arising from advances by officers, due June 30, 2026

50,000

Reserve for general contingencies

400,000

Employees income tax withheld

20,000

Advances received from customers on purchase orders

64,000

Containers deposit

50,000

Accounts payable arising from purchase of goods, net of debit balances of P40,000

170,000

Cash dividends payable

80,000

Stock dividend payable

100,000

Dividends in arrears on preferred stock, not yet declared

200,000

Convertible bonds, due January 31, 2027

1,000,000

First mortgage serial bonds, payable in semi-annual installments of P50,000, due April 1 and October 1

2,000,000

Overdraft with Allied bank

90,000

Cash in bank balance with PNB

390,000

Estimated damages to be paid as a result of unsatisfactory performance on a contract

160,000

Estimated expenses on meeting guarantee for service requirements on merchandise sold

120,000

Estimated premiums payable

75,000

Deferred revenue

87,000

Accrued interest on bonds payable

360,000

Common stock warrants outstanding

120,000

Common stock options outstanding

210,000

Unused letters of credit

400,000

Deficiency VAT assessment being contested

500,000

Notes receivable discounted

200,000

On March 31, 2026, the P400,000 notes payable was replaced by an 18-month note for the same amount. Atlanta is considering similar action on the P100,000 note payable due on December 31, 2026. The 2025 financial statements were issued on March 31, 2026.

On December 1, 2025, a former employee filed a lawsuit seeking P200,000 for unlawful dismissal. Atlantas attorney believe that the suit is without merit. No court date has been set.

Questions: Based on the above and the result of your audit, compute the following as of December 31, 2025:

  • Total current liabilities ?

  • Total noncurrent liabilities ?

  • Total liabilities ?

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