Classifi cation of Financial Statement Items Carnival Corporation & plc is one of the largest cruise companies in the world with such well-known brands as Carnival Cruise Lines, Holland America Line, and Princess Cruises. Classify each of the following items found on the company’s November 30, 2008, balance sheet as a current asset (CA), noncurrent asset (NCA), current liability

(CL), long-term liability (LTL), or stockholders’ equity (SE) item.

________ 1. Trade and other receivables, net ________ 2. Common stock of Carnival Corporation ________ 3. Short-term borrowings ________ 4. Inventories ________ 5. Property and equipment, net ________ 6. Prepaid expenses and other ________ 7. Accounts payable ________ 8. Goodwill ________ 9. Retained earnings ________ 10. Long-term debt AppendixLO1