Brief Exercise 3-6 (Algo) Balance sheet classification (LO3-2, 3-3) You have been asked to review the December 31, 2021, balance sheet for Champion Cleaning. After completing your review, you list the following three items for discussion with your superior: 1. An Investment of $35,000 is included in current assets. Management has indicated that it has no intention of liquidating the Investment in 2022 2. A $150,000 note payable is listed as a long-term liability, but you have determined that the note is due In 10, equal annual Installments with the first installment due on March 31, 2022 3. Deferred revenue of $75,000 is included as a current liability even though only two-thirds will be recognized as revenue in 2022 and the other one-third in 2023. Determine the appropriate classification of each of these items. (no entry is required for classification, choose "No entry) Current Long-term Items Amount Amount Classification Classification 1. Investment 2. Installment note 3. Deferred revenue