Dominique, the CFO for Trattoria Inc., asked you to classify the following liabilities for the December 31, 2024, statement of financial position: 

1. Trattoria declared a dividend in 2024 of $25,000, which is payable on January 31, 2025. 

2. During the month of December, Trattoria settled warranty claims with customers by issuing in-store credit totalling $15,000. 

3. On August 1, 2024, Trattoria obtained a $10,000 five-year loan with annual equal principal repayments of $2,000 due on July 31. Interest at 10% per year is payable every six months on January 31 and July 31.
4. In December, the company withheld deductions totalling $5,600 from its employees, which will be remitted on January 15, 2025. 

5. During 2024, customers purchased five-year extended warranty plans totalling $40,000. Management expects that claims under these warranties will be equal in each year of the warranty period.
The warranty period starts in 2025. 

6. During the December holiday shopping period, the company sold $5,000 in gift cards. 

7. During 2024, Trattoria obtained a $5,000 loan with a three-year term from a bank. The loan contains a current ratio requirement, which the company breached on December 31. Breaching this requirement can trigger immediate repayment of the loan.

Required
Identify each of the liabilities as current or non-current. Provide your reasoning for each item.