- What amount of current liabilities should be reported on December 31, 2019, statement of Financial position? - What amount of non current liabilities should be reported on the December 31, 2019, statement of Financial position?

LOVE INC. is a manufacturer and retailer of household furniture. The company's financial statements for the year ended December 31,2019 disclose the following. a. A php 150,000 short term obligation due on March 1 2020. Its maturity could be extended to March 1, 2022, provided LOVE Inc. agrees to provide additional collateral. On February 12, 2020 an agreement is reached to extend the loan's maturity to March 1 2022. b. A short term obligation of php 3,600,000 in the form of notes payable due on February 5,2020. The company issued 5000 ordinary shares for 36php per share on January 25,2020. The proceeds from the issuance plus 900,000 php cash were used to fully settle the debt on February 5, 2020 c. A long term obligation of 2,500,000 on December 1 2019. On November 10, 2019, LOVE Inc, breaches a covenant on its debt obligation and the loan becomes payable on demand. An agreement is reached to provide a waiver of the breach on December 11, 2019. d. A debt of obligation 1,000,000 maturing on December 31, 2025. The debt is callable on demand by the lender at anytime. e. A long term obligation of 4,000,000. The loan is maturing over 4 years in the amount of 1,000,000 per year. The loan is dated September 1, 2019, and the first maturity date is September 1, 2020. - What amount of current liabilities should be