In your role as one of the staff accountants at Nanjing Intl Inc., you were presented with the following selected accounts after posting adjusting entries:

Accounts Payable	$ 55,000
Notes Payable, 3-month	80,000
Accumulated DepreciationEquipment	14,000
Payroll and Benefits Payable	27,000
Notes Payable, 5-year, 8%	30,000
Estimated Warranty Liability	34,000
Payroll Tax Expense	6,000
Interest Payable	3,000
Mortgage Payable	200,000
Sales Tax Payable	21,000

Requirements

1. Prepare the current liability section of Nanjing Intl, Inc.s balance sheet, assuming $25,000 of the mortgage is payable next year. (List liabilities in magnitude order, with largest first.)
2. Prepare a brief written comment on Nanjing Internationals liquidity, assuming total current assets are $450,000.