at december $31,2023,$ parew corporation has a long term debt of $700000$ owing to its bank. the existing debt agreement imposes serveral covenants related to parew liquidity and solvency. at december $312023,$ parew was not in compliance with covenants related to its current ratio and debt to total assets ratio, however, the bank was allowing parew to operate outisde of its covenants. how would you answer for should the debt be reported as a current liab ility at december $312023?$ be different if parew prepared financial statements in accordance with aspe