Balance Sheet and Stockholder's Equity

A corporation's balance sheet is usually divided into three primary sections (A= L + E) with various classifications reported within each section group. Listed below are some typical classifications within a section:

Contributed capital	Other assets
Current assets	Other liabilities
Current liabilities	Property, plant, and equipment
Intangible assets	Retained earnings
Long-term investments	Accumulated other comprehensive income
Long-term liabilities

(1) Pick one of the above classifications. Describe and define the requirements/characteristics necessary to be listed in the chosen area (5 pts) AND identify various items that would be classified there (5 pts).

(2) Refer to the equity section of the balance sheet. It is comprised of two sections - contributed and earned capital. Discuss and identify the differences between the two sections (5 pts). Also, identify and discuss one type of equity transaction and its overall impact on equity (5 pts). For example, issuance of stock, payment of a dividend, treasury stock, etc.