Prepare statement presentation of long-term liabilities. 1. Presented below are long-term liability items for Molini Company at December 31, 2010. Prepare the long-term liabilities section of the balance sheet for Molini Company. Bonds payable, due 2012 $500,000 Lease liability 70,000 Notes payable, due 2015 80,000 Discount on bonds payable 45,000