A friend who owns a small entity trading as Electrical Appliance Services knows that you are studying accounting, and has asked if you would help prepare the entity's classified balance sheet statement and an income statement. To perform this task, the friend has provided you with the following list of items generated from the transactions for the year. You are required to classify each item and select the report in which the item will be presented Item S Classification Report Accumulated depreciation 6600 Advertising paid in advance 510 Advertising Used 6000 Capital 35000 Cash at bank 12600 Depreciation 1400 Electrical supplies on hand 8300 Interest Expense 500 Loan due to be paid in three years 21500 Monies owed by the business to suppliers 3800 Monies owed to the business by customers 10200 Public liability insurance 8000 Service deposits received in advance 800 Service Fees Received 83710 Tools 19400