Classification of Balance Sheet Elements For each item listed, indicate whether it is a current asset, investment, fixed asset, intangible asset, current liability, long-term liability, or component of stockholders’ equity:

1. Accounts receivable.

2. Notes receivable from customers due in normal trade terms.

3. Patent.

4. Inventory held for sale to customers.

5. Inventory of cleaning supplies to be used internally.

6. Wages payable.

7. Retained earnings.

8. Merchandise inventory held pending return to supplier.

9. Shares of stock of an affiliated company held for longterm appreciation.

10. Additional paid-in capital.

11. Bonds payable due in five years.

12. Note receivable from company vice president.

13. Amounts payable to employees’ union for dues withheld from salaries.

14. Amounts paid out in advance for future periods’ rent.

15. Accounts payable.

16. Note receivable from customer due in five years.