On January 1, 2013, Hershey Co. leased a building to Mars Corp. for a
ten-year term at an annual rental of $80,000. At inception of the lease,
Hershey received $320,000 covering the first two years’ rent of
$160,000 and a security deposit of $160,000. This deposit will not be
returned to Mars upon expiration of the lease but will be applied to
payment of rent for the last two years of the lease. What portion of the
$320,000 should be shown as a current and long-term liability,
respectively, in Hershey’s December 31, 2013 balance sheet?