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Laura, the accountant for Ocsoc Ltd., is currently preparing the December 31, 2020, statement of financial position, and she asked you to help her classify the following liabilities: Identify each of the liabilities as current or non-current (Long-term). (Note that some liabilities may be classified partially as current and partially as non-current.) a. b. c. d. e. f. 9. In the month of December, Ocsoc accepted $220,000 in deposits for goods to be delivered to customers by March 2021. During December, Ocsoc withheld $6,000 from employee wages for CPP, EI, and taxes. The company is required to remit the amount to the government on January 15, 2021. In 2019, Ocsoc obtained a $96,000 five-year loan repayable at maturity. The company provides a one-year assurance-type warranty on its products and in December 2020 estimated a warranty expense of $21,000. At the end of December, Ocsoc owed suppliers $59,000 for goods purchased during the last quarter of the year, which will be settled in the first quarter of 2021. Ocsoc has a $48,000 loan, of which $4,800 is scheduled to be repaid in 2021. During 2020, Ocsoc exceeded its cash balance by $4,800 and the bank automatically activated a line of credit to cover the shortage. Current Long-term Dividend Aristocrat Inc. (DA) borrowed $197,000 from Grow Business Bank to finance the purchase of equipment costing $147,750 and to provide $49,250 in cash. The legal documentation states that the loan matures in 20 years, and the principal is to be paid in annual instalments of $9,850. The terms of the loan also indicate that DA must maintain a current ratio of 1.25 and cannot pay dividends that will reduce retained earnings below $97,000. The 2020 year-end statement of financial position, immediately prior to the bank loan and the purchase of equipment, follows: Current assets Non-current assets $110,760 406,240 Current liabilities Long-term liabilities Common shares Retained earnings Total liabilities and shareholders' equity $78,000 197,000 109,000 133,000 Total assets 00 $517,000 Prepare the following statement of financial position assuming the maximum divided is declared and paid. Current Assets Current Liabilities Non-current Assets Long-term Liabilities Common Shares Retained Earnings Total Liabilities and Shareholder's Equity Total Assets Calculate the current ratio using the updated statement of financial position. (Round answer to 2 decimal places, e.g. 7.25.) Current Ratio Dividend Aristocrat Inc. in compliance with the loan agreeement