On December 31, 2021, DeSantis Dumpsters, Inc., [DDI] owed a total of $4,000,000 on several notes payable which were coming due on or before March 1, 2022. On January 21, 2022, DDI borrowed a 5-year longterm loan of $2,400,000 from The Margo National Bank. DDI used all of these funds from the loan along with additional funds from its of its operating cash reserves, to repay $3,400,000 of the short-term notes owed. The financial statements were issued on March 5, 2019 in accordance with ASPE. How should DDI report these notes payable on the balance sheet dated December 31,2021 ? a. Current Liabilities: ..... $2,400,000; Long Term Liabilities ..... $1,600,000 b. Current Liabilities: ..... $1,000,000; Long Term Liabilities ..... $3,000,000 c. Current Liabilities: ..... $600,000; Long Term Liabilities ..... $3,400,000 d. Current Liabilities: ..... $4,000,000; Long Term Liabilities ..... $0