The following alphabetized list of selected adjusted account balances is from the records of Jasper Company on December 31, 2023:

RequiredPrepare the current liability section of Jasper Company’s 2023 balance sheet (for simplicity, list the accounts from largest to smallest).

Analysis Component:Why is it important to classify assets and liabilities in current and non-current categories?

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Accounts Payable.......... Accumulated Depreciation Equipment.... Estimated Warranty Liability.......... GST Payable............ Mortgage Payable, $35,000 due Dec. 31, 2024.. Notes Payable, due April 1, 2024... Notes Payable, due April 1, 2027... PST Payable.......... Warranty Expense.... $ 71,000 46,000 16,500 9,800 370,000 15,800 114,000 7,600 11,200