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The following are the typical classifications used in a balance sheet: Current assets b. Investments Property, plant, and equipment d. Intangible assets Other assets . Current liabilities g. Long-term liabilities h. Paid-in capital 1. Retained earnings Required: For each of the following balance sheet items, use the letters above to indicate the appropriate classification category. (If the item is a contra account, select the appropriate letter with a minus sign.) 1 10 2. 3. 4. Equipment Accounts payable Allowance for uncollectible accounts Land (held for investment) Notes payable (due in 5 years) Deferred revenue (for the next 12 months) Notes payable (due in 6 months) Accumulated amount of net income less dividends Investment in XYZ Corp. (long-term) 11 12 13 14. 15 5 Inventory Patent Land (used in operations) Accrued liabilities (due in 6 months) Prepaid rent (for the next 9 months) Common stock Building (used in operations) Cash Income taxes payable 6. 7 8 16 17 9. 18