QS 9-14 (Algo) Preparing liabilities section of balance sheet LO C1, P2, P3 Selected accounts from Russel Co.'s adjusted trial balance for the year ended December 31 follow. Prepare the liabilities section of its classified balance sheet. FICA-Social Security taxes payable State unemployment taxes payable Current portion of long-term debt Employee federal income taxes payable Federal unemployment taxes payable $2,000 1,200 2,400 6,600 Sales tax payable (due in 1 week) Salaries payable Notes payable (due in 4 years) FICA-Medicare taxes payable Accounts payable $ 230 29,000 7,600 460 3,400 260 RUSSEL CO. Liabilities Section of Balance Sheet December 31 Liabilities Current liabilities Total current liabilities Total current liabilities Long-term liabilities Total liabilities