The accounting records of Brilliant Foods, Inc., include the following items at December 31, 2010:

Requirements
1. Show how each relevant item would be reported on the Brilliant Foods, Inc., classified balance sheet, including headings and totals for current liabilities and long-term liabilities.
2. Answer the following questions about Brilliants financial position at December 31, 2010:
a. What is the carrying amount of the bonds payable (combine the current and long-term amounts)?
b. Why is the interest-payable amount so much less than the amount of interest expense?
3. How many times did Brilliant cover its interest expense during2010?

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Mortgage note payable, Accumulated depreciation, 95,000 $165,000 current . Accumulated pension equipment.. Discount on bonds payable benefit obligation Bonds payable, long term200,000 Mortgage note payable, 460,000 (all long term)23,000 Operating income360,000 Equipment.746,000 long-term . Bonds payable, current portion Interest expense..2 313,000 Pension plan assets 500,000 (market value). 224,000 Interest payable 410,000