Selected liability items for Waugh Corporation at December 31, 2024, follow. Prepare the liabilities section of Waugh’s balance sheet. 

Accounts payable .................................................................................$ 48,000 

Income tax payable ................................................................................$ 8,000 

Bonds payable, due 2035 ...................................................................1,035,000 

Notes payable (net of current portion) ................................................145,000 

Current portion of notes payable ...........................................................25,000 

Interest payable .........................................................................................26,000 

Current portion of lease liability ..............................................................25,000 

Total lease liability ......................................................................................75,000