D17.4A Indicate whether each of the following statements is true or false. If false, indicate how to correct the statement. ARE THE FOLLOWING STATEMENTS TRUE OR FALSE | FROM READING STATEMENT 1. A company has the following items: cash on hand $40,000, cash refund due to customer of $30,000, and checking account balance $22,000. Cash and cash equivalents is therefore $62,000. 2. A company that has received NSF checks should report these checks as a current liability on the balance sheet. 3. Restricted cash that is a current asset is reported as part of cash and cash equivalents. 4. A company has cash in the bank of $50,000, petty cash of $400, and stock investments of $100,000. Total cash and cash equivalents is therefore $50,400. TRUE / FALSE