On May 1, 2020, Christina Fashions borrowed $95,000 at a bank by signing a four-year, 6% loan. The terms of the loan require equal principal payments of $23,750 and accrued interest at 6% due annually on April 30. The loan agreement requires the company to maintain a minimum current ratio of 2.0. The December 31, 2020. year-end statement of financial position, immediately prior to the reclassification of long-term debt, follows: Current assets $117,300 Current liabilities $51,000 Non-current assets 184,700 Loan payable 95,000 Common shares 81,000 Retained earnings Total liabilities and 75,000 Total assets $302,000 shareholders' equity $302.000