Purpose of AssignmentThe purpose of this assignment is to help you understand the balance sheet presentation for the liabilities of a company.ÿAssignment StepsResources: Financial Accounting: Tools for Business Decision MakingPrepare the liabilities section of O’Brian’s balance sheet using the following information:ÿAccounts payable $157,000Notes payableÿ(due May 1, 2018)ÿ$20,000ÿBonds payable (due 2021) $900,000Unearned rent revenue $240,000Discount on bonds payable $41,000FICA taxes payable $7,800Interest payable $40,000Notes payable (due 2019) $80,000Income taxes payable $3,500Sales taxes payable $1,700ÿThe Liabilities Section of O’Brian’s balance sheet must be 525 words.ÿShow work on the Week 3 Excel?ÿspreadsheet.

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