RECOMMENDED!!MT 2010-Nicole’s Yogurt Shoppe, Inc. has two liabilities
Nicole’s Yogurt Shoppe, Inc. has two liabilities on January 1, 2106 First, she owes $20,000 on a vehicle loan withpayments of $1,000 per month (no interest for this problem). Second, she owes $160,000 on a building loanwhere the monthly payment is $1,400 per month (no interest for this problem). Calculate the current and longterm liabilities for each loan at two different dates: January 1, 2016 and December 31, 2016. Show your work.Balance Sheet – January 1, 2016Current Liabilities:__________________________ ______________________________________ ____________Long term liabilities:__________________________ ______________________________________ ____________Balance Sheet – December 31, 2016Current Liabilities:__________________________ ______________________________________ ____________Long term liabilities:__________________________ ______________________________________ ____________Show your calculations:
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