Picard Manufacturing, Inc. has the following liabilities at June 30, 2020. Line of credit, due on demand $103,500 Deferred revenue 38,000 Accounts payable 35,000 Federal income tax payable 16,200 Note payable, issued June 30, 2020, due in monthly installments of $5,000 plus interest 250,000 7%, 20-year bonds payable, issued July 1, 2010, interest payable annually on July 1 150,000 How much should be reported in the Current liabilities and Long-term liabilities sections, respectively, of its classified balance sheet? Select one: a. $99,700; $503,500 b. $51,200; $541,500 C. $263,200; $340,000 d. $159,700; $443,500 e. $149,200; $443,500 f. $89,200; $503,500