Current Portion of Long-Term Debt
Connie's Bistro, Inc. reported the following information about its long-term debt in the notes to a recent financial statement (in millions):
Long-term debt consists of the following:December 31Current YearPreceding YearTotal long-term debt$702,100$386,200Less current portion(203,600)(189,600)Long-term debt$498,500$196,600
a. How much of the long-term debt was disclosed as a current liability on the current year’s December 31 balance sheet?
b. How much did the total current liabilities change between the preceding year and the current year as a result of the current portion of long-term debt?
c. If Connie's Bistro did not issue additional long-term debt next year, what would be the total long-term debt on December 31 of the upcoming year?