Purdum Farms borrowed $24 million by signing a five-year note on December 31, 2017 Repayments of the principal are payable annually in installments of $4.8 million each. Purdum Farms makes the first payment on December 31, 2018 and then prepares its balance sheet. What amount will be reported as current and long term liabilities, respectively, in connection with the note at December 31, 2018, after the first payment is made? 2015034 Multiple Choice O ) 54.8 million in current abilities and $14.4 million in long term liabilities O Zero in current abies and $24 milion in long-term abiities O Zero in current liabilities and $19.2 million in long term liabilities O $48 million in current liabilities and $19.2 million in long-term liabilities