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Question 8 [5 points] On January 1, 2014, ABC Inc. borrowed $261,000 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 $82,338 each December 31. The payment schedule is shown below Year 2014 2015 2016 2017 Annual Principal Portion of Payment Payment 82,338 56,238 82,338 61,862 82,338 68,048 82,338 74,852 Interest Portion of Payment 26,100 20,476 14,290 7,486 Principal Balance at Year-End 204,762 142.900 74,852 0 a) Show how ABC Inc. 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 ABC Inc will show the note on the year-end December 31, 2015 balance sheet. Liabilities Current Liabilities: (Select one). Long Term Liabilities: (Select one)