I need help Using the information given, writing a short note fore the financial statements describing the various parts of the long term debt and the company’s future plans for dealing with the debt.Long term notes payables (4% interest) of $15 million, maturing over next 10 years. 10% of principal is due this year$20 Million of 7% secured bonds collateralized on buildings, due in 10 years.$5 Million in 9% debenture bonds, due in 2 years.$100 million in outstanding 8% term bonds, maturing in 2025Last year, the company borrowed $5 million at 4% from a related party, payable in 3 yearsPlans on redeeming above term bonds by issuing preferred stock Plans to refinance all outstanding debt with rates over 6% for lower interest notes.

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