ACCT 3110 4. Balance sheet (15) The following are the typical classifications used in a balance sheet: a) Current assets b) Investments e) Property, plant, and equipment d) Intangible assets c) Other assets f Current liabilities g) Long-term liabilities h) Paid-in capital i) Shareholders Equity For each classification cat place a minus sign before the chosen letter.(6 points) of the following items, use the letters above to indicate the most appropriate egory in the balance sheet. If the item is a contra account (valuation account), 1. Note receivable, due in 6 months 7.Propaid Expenses for 12 month polisy 7, -- 2 Furniture 8. Goodwill 3. Accumulated depreciation Accrued salaries payable 4. Land held for sale AOCI 5. _ Bonds Payable Allowance for doubtful accounts 6. Interest payable 12. Common stock Most decisions made by management impact the ratios analysts use to evaluate performance Indicate (by letter) whether each of the actions listed below will immediately increase (I), decrease (D), or have no effect (N) on the ratios shown. Assume each ratio is less than 1.0 before the action is taken.(3 points) Current Debt to Action ratio equity ratio 1. Issuance of common stock for cash 2. Purchase of inventory on account 3. Receipt of cash from a customer on account