Question 14 On January 1, 2017, Howard Company, a calendar-year company, issued $2,000,000 of notes payable, of which $500,000 is due on January 1 for each of the next four years. The proper statement of financial position presentation on December 31, 2017, is Current Liabilities, $500,000; Non-current Liabilities, $1,500,000. Non-current Liabilities $2,000,000. Current Liabilities, $2,000,000. Current Liabilities, $1,000,000; Non-current Liabilities, $1,000,000