Brewer Company has the following selected accounts after posting adjusting entries: 
Instructions
(a) Prepare the current liability section of Brewer Company's balance sheet, assuming $12,000 of the mortgage is payable next year.
(b) Comment on Brewer's liquidity, assuming total current assets are $450,000.
Definitions:
Market Shift
A change in the supply or demand conditions in a market, leading to a new equilibrium of prices and quantities.
Gasoline
A fluid energy source obtained from crude oil, predominantly utilized to operate engines based on internal combustion.
Supply (S)
The total amount of a specific good or service that is available to consumers at various prices over a certain period.
Demand (D)
In economic terms, the quantity of a good or service that consumers are willing and able to purchase at various prices during a given period.
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