The following are the typical classifications used in a balance sheet: Current liabilities Long-term liabilities Paid-in capital i. Retained earnings a. Current assets f. b. Investments g. c. d. Property, plant, and equipment Intangible assets h. e. Other assets Required: For each of the following balance sheet items, use the letters above to indicate the appropriate classification category. (If the item is contra account, select the appropriate letter with a minus sign.) 1234 1. Equipment 10. 2. Accounts payable 11. Inventory Patent 3. Allowance for uncollectible accounts 12. Land (used in operations) 4. Land (held for investment). 13. Accrued liabilities (due in 6 months).