The following selected transactions were taken from the books of Aliceville Company for 2014:

1.	On March 1, 2014, borrowed $48,000 cash from the local bank. The note had a 7 percent interest rate and was due on September 1, 2014.
2.	Cash sales for the year amounted to $225,000 plus sales tax at the rate of 7 percent.
3.	Aliceville provides a 90-day warranty on the merchandise sold. The warranty expense is estimated to be 3 percent of sales.
4.	Paid the sales tax to the state sales tax agency on $200,000 of the sales.
5.	Paid the note due on September 1 and the related interest.
6.	On October 1, 2014, borrowed $50,000 cash from the local bank. The note had a 10 percent interest rate and a one-year term to maturity.
7.	Paid $3,200 in warranty repairs.
8.	A customer has filed a lawsuit against Aliceville for $100,000 for breach of contract. The company attorney does not believe the suit has merit.

Correct

Cash paid for interest

$1,680

Correct

Warranty expense

$6,750

Do not know the interest expense.

What amount of interest expense is reported on Alicevilles income statement for the year?

Interest expense

Do not know balance sheet.

Prepare the current liabilities section of the balance sheet at December 31, 2014. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.)

ALICEVILLE COMPANY
Balance Sheet (Partial)
As of December 31, 2014
Current liabilities
Notes payable
Sales tax payable
Interest payable
Warranty payable
Total current liabilities	$0