The following items appear on the balance sheet of a company with a one-year operating cycle. Identify the proper class each item as follows: C if it is a current liability, Lif it is a long-term liability, or N if it is not a liability Classification Item 1. Interest payable (due in 90 days) 2. Unearned revenues (to be earned over next 3 months) 3. Employee Union Dues Payable 4. Pension liability (to be paid to employees retiring in 2 to 5 years) 5. Warranty liability (6 months of coverage) 6. FICASocial Security Taxes Payable 7. FICAMedicare Taxes Payable 8. Prepaid Insurance (6 months of coverage) 9. Sales taxes payable. 10. Pension liability (to be fully paid to retired employees in next 11 months) L N