The following accounts are listed in a companys general ledger: December 31, 2017 December 31, 2016 Accounts Receivable $ 12,300 $ 10,000 Certificates of Deposit (three months) 10,000 15,000 Marketable Securities 4,500 4,000 Petty Cash Fund 800 1,000 Money Market Fund 23,200 28,700 Cash in Checking Account 6,200 5,400 REQUIRED: 1. Which items are cash equivalents? 2. Explain where items that are not cash equivalents should be classified on the balance sheet. 3. What are the amount and the direction of change in cash and cash equivalents for 2017? Is the company as liquid at the end of 2017 as it was at the end of 2016? Explain your answer.