Stiner Company has the following selected accounts after posting adjusting entries:

Accounts Payable $ 45,000

Notes Payable, 3-month 80,000

Accumulated DepreciationEquipment 14,000

Payroll and Benefits Payable 27,000

Notes Payable, 5-year, 8% 30,000

Estimated Warranty Liability 34,000

Payroll Tax Expense 6,000

Interest Payable 3,000

Mortgage Payable 200,000

Sales Tax Payable 16,000

Instructions

(a) Prepare the current liability section of Stiner Company's balance sheet, assuming $25,000 of the mortgage is payable next year. (List liabilities in magnitude order, with largest first.)

(b) Comment on Stiner 's liquidity, assuming total current assets are $450,000.