Like Home, Inc., includes the following selected accounts in its general ledger at December 31, 2010:
Bonds payable................................................................. $400,000
Equipment....................................................................... 112,000
Current portion of bonds payable................................... 51,000
Notes payable, long-term................................................ 300,000
Interest payable (due March 1, 2011)............................. 1,000
Accounts payable............................................................ 36,000
Discount on bonds payable (all long-term)..................... 12,000
Accounts receivable........................................................ 27,000
Prepare the liabilities section of Like Home, Inc. s balance sheet at December 31, 2010, to show how the company would report these items. Report total current liabilities and total liabilities.