At December $31,2021,$ a Water Enterprise Fund has outstanding revenue bonds payable of $$1$ million, of which $$40\mathrm{.}000$ is due to be paid on February $152022$ and $$50\mathrm{.}000$ isdue to be paid on August $15,2022$ How should it report this liability in its fund statement of net position as of December $31.2021?$It should report no liability for this obligation on the fund statement of net positionIt should report $$40\mathrm{.}000$ as a current liability and $$960,000$ as a noncurrent liabilityIt should report $$40\mathrm{.}000$ as a current liability and disclose $$960\mathrm{.}000$ in a noteIt should report $$90,000$ as a current liability and $$910\mathrm{.}000$ as a noncurrerit liability