The controllers of Marin, Inc. and Bramble Corp. both ask you whether their companies can reclassify short-term obligations as long-term. Here are the facts surrounding both companies short-term debt. Marin, Inc. On December 31, 2017, Marin, Inc. has $1,560,000 of short-term debt in the form of notes payable to Michaels State Bank due February 5, 2018. On January 28, 2018, Marin issued 15,600 shares of common stock at $75 per share. Marin used the proceeds of $1,170,000 from the stock issuance, along with $507,000 in cash to retire the short-term debt and associated accrued interest on February 5, 2018. Marin will issue its December 31, 2017 financial statements on February 25, 2018. Bramble Corp. On December 31, 2017, Bramble Corp. has $2,340,000 of short-term notes payable to Indiana Bank & Trust. The notes are due on January 31, 2018. Bramble retired the notes, along with $156,000 in accrued interest, in full on January 31, 2018. On February 11, 2018, Bramble obtained $3,510,000 in long-term financing from Terre Haute Bank & Trust. The new debt bears interest at 5 percent, with interest payments due annually. Bramble will issue its December 31, 2017 financial statements on February 28, 2018. Prepare partial balance sheets for Marin, Inc. and Bramble Corp. at December 31, 2017, showing how both companies short-term debt should be presented. (Enter account name only and do not provide descriptive information.) Marin, Inc. Partial Balance Sheet choose the accounting period December 31, 2017 select an opening name for section one : enter a balance sheet item $enter a dollar amount Bramble Corp. Partial Balance Sheet choose the accounting period select an opening section name :