Current assets in a classified balance sheet are listed: a by order of expected conversion to cash or consumed in less than a year. b by importance e by longevity d alphabetically 2) Which of the following is an activity of FINANCING ? a purchasing the assets needed to operate the busness b creating/selling goods & services to outsiders c obtaining funds to begin & run the business. d paying creditors in the normal operating of the business 3) Which of the following is an activity of OPERATING ? a purchasing the assets needed to operate the busness b creating/selling goods & services to outsiders c obtaining funds to begin & run the business. d paying creditors in the normal operating of the business 4) To follow is selective information for Borch Corporation at 12/31/17 Cost of Goods Sold $1,175,000 Selling Expenses $45,000 Wage & Salary Expense $105,000 Depreciation Expense $25,000 Insurance Expense $15,000 Net Sales $1,800,000 Interest Expense $5,000 Fulfillment & Shipping Expense $84,000 REQUIREMENT: Prepare in good form the Income Statement for 2017 NOTE: Include the Gross Profit %, and Net Income %