On January 1, 2014, Gulf Corp. borrowed $201,000 from the bank. Interest is calculated at the rate of 10% and the term of the note is four years. Four equal annual payments will be made in the amount of $63,410 each December 31. The payment schedule is shown below: Year 2014 2015 2016 2017 Annual Payment 63,410 63,410 63,410 63,410 Principal Portion of Payment 43,310 47,641 52,405 57,644 Interest Portion of Payment 20,100 15,769 11,005 5,766 Principal Balance at Year-End 157,690 110,049 57,644 0 a) Show how Gulf Corp. will show the note on the year-end December 31, 2014 balance sheet. Liabilities Current Liabilities: (Select one) Long Term Liabilities: (Select one) b) Show how Gulf Corp. will show the note on the year-end December 31, 2015 balance sheet. Liabilities Current Liabilities: (Select one) Long Term Liabilities: (Select one)