Debt Financing

Houston Steel Corp. shows the following selected adjusted account balances at March 31, 2021: Wages Payable $102, 000 Accounts Payable (AP) $58,000 Income Taxes Payable $92,000 Accumulated Depreciation (Equipment) $69,000 Note Payable , due July 15, 2023 $108,000 Mortgage Payable $320,000 Notes Payable, due August 30, 2021 $64,000 Accounts Receivable $71,000 Additional : $240,000 of the mortgage payable balance is due one year beyond the balance sheet date; the remainder will be paid within the next 12 months Required: Prepare the liability section of Houston Steel Corp March 31, 2021 balance sheet.