Q No.2 Balance Sheet Presentation of Liabilities The following are selected items from the accounting records of Miami Juice for the year ended December 31, 2018: $ Note payable to Southeast Bank.... 300,000 Income taxes payable. Accrued expenses and payroll taxes... Mortgage note payable. Accrued interest on mortgage note payable. Trade accounts payable. Unearned revenue...... Potential liability in pending lawsuit 25,000 33,000 .880,000 6,000 .340,000 28,000 1,000,000 Other Information 1. The note payable to Southeast Bank is due in 90 days. Arrangements have been made to renew this note for an additional 24 months. 2. The mortgage requires payments of $8,000 per month. An amortization table shows that its balance will be paid down to $865,000 by December 31, 2019. 3. Accrued interest on the mortgage note payable is paid monthly. The next payment is due near the end of the first week in January 2019. 4. Miami Juice has been sued for $1,000,000 in a product damage case. It is not possible at this time, however, to make a reasonable estimate of the possible loss, if any, that the company may have sustained. = Instructions a. Using the information provided, prepare the current and long- term liability sections of the company's balance sheet dated December 31, 2018. (Within each classification, items may be listed in any order.)