On January $1,2021,$ Sheridan Company, a calendar$-$year company, issued $$908000$ of notes payable, of which $$227000$ is due on January $1$ for each of the next four years. The proper balance sheet presentation on December $31,2021,$ is

Current Liabilities, $$227000$; Long$-$term Debt, $$681000.$

Current Liabilities, $$454000$; Long$-$term Debt, $$454000.$

Long$-$term Debt, $$908000.$

Current Liabilities, $$908000.$