The following items appear on the balance sheet of a company with a one year operating cycle Identify the proper classification of each item as follows: Cilt is a current liability. L if it is a long-term liability or Nift is not a liability Classification Item 1. Employee Union Dues Payable 2 Notes payable (due in 6 to 11 months) 3. Employee Medical Insurance Payable 4. Interest payable (due in 90 days) 5. Employee Federal Income Taxes Payable 6. FICA Social Security Taxes Payable 7. Bonus payable (o be paid in 60 days). 8. Notes payable (due in 120 days) 9. Bonds payable (due in 2 years) 10. Machinery (epected life of 4 years)