Interest payable in statement of profit or loss

In questions of creating cash flow statement, I often see “interest payable”account in statement of profit or loss like below.

Revenue 88,740
Less: Cost of sales 73,750
––––––
Gross profit 14,990
Less: Distribution costs 1,200
Less: Administration expenses 610
––––––
13,180
Add: Profit on disposal of plant and equipment 300
Add: Investment income 320
Less: Interest payable 2,150
––––––
Profit before tax 11,650
Less: Income tax expense 2,900
––––––
Profit for the year 8,750

I understand that this interest payable is in fact interest expense for long-term liability cash-paid during the year. But why it is described as interest payable, not interest expense? Isn’t it interest payable should appear in statement of financial position as liability?