E5.2 (LO 1, 2) (Classification of Balance Sheet Accounts) Presented below are the captions of Faulk Company's balance sheet. a. Current assets. f. Current liabilities. b. Investments. g. Noncurrent liabilities. c. Property, plant, and equipment. h. Capital stock. d. Intangible assets. i. Additional paid-in capital. e. Other assets. j. Retained earnings. Instructions Indicate by letter where each of the following items would be classified. 1. Preferred stock. 8. Premium on bonds payable. 2. Goodwill. 9. Allowance for doubtful accounts. 3. Salaries and wages payable. 10. Accounts receivable. 4. Accounts payable. 11. Cash surrender value of life insurance. 5. Buildings. 12. Notes payable (due next year). 6. Equity investments (to be sold within one year). 13. Supplies. 7. Current maturity of long-term debt. 14. Common stock