Tech World Magazine Inc. sold 3,200 annual subscriptions of Tech World for \($36\) during December 2000. These new subscribers will receive monthly issues, beginning in January 2001. In addition, the business had taxable income of \($125,000\) during the first calendar quarter of 2001. The federal tax rate is 35%. A quarterly tax payment will be made on April 7, 2001.

Prepare the current liabilities section of the balance sheet for Tech World Magazine Inc. on March 31, 2001.