Purdum Farms borrowed $17 million by signing a five-year note on makes the first payment on Dec at December 31, 2016, afher the first payment is made r31, 2015 Repayments of the principal are payable annualy in installments of $3.4 milion each Purdum Farms 31, 2016 and then prepares its balance sheet. What amount will be reported as current and long-term Bablities, respectively, in connection with the note O $3.4 million in current labilities and $13.6 million in long term lisbilitios O Zero in current lablities and $17 milion in long term iabilities O Zero in current liablities and $13.6 milion in long term labilises O $34 millin in current labilities and $10.2 mition in long term Sabilities