rkalla Co. has the following liabilities at December 31, year 8: The bank loan of $2,000,000 requires Irkalla to maintai

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rkalla Co. has the following liabilities at December 31, year
8:
The bank loan of $2,000,000 requires Irkalla to maintain certain
financial ratios but Irkalla has not been able to do so and is in
violation of the loan agreement. The creditor has not waived its
rights in regard to the loan. What amount should Irkalla report as
current liabilities at December 31, year 8?
Multiple Choice
$3,300,000
$1,400,000
$3,100,000
$1,200,000