Question: On December 31, 2016, the Wagner Company had the following liabilities: Trade accounts payable $150,000 11% note payable, maturing in equal installments of $40,000 on December 30 of each year through 2019 120,000 12% note payable, issued October 15, 2016, maturing February 15, 2017 70,000 On December 31, Wagner signed a binding agreement with its bank to refinance the 12% note through February 14, 2019, at a variable interest rate. What is the amount of Wagner's current liabilities on December 31, 2016?
a. $150,000
b. $190,000
c. $230,000
d. $260,000