The following are the typical classifications used in a balance sheet: a. Current assets f. Current liabilities b. Investments g. Long-term liabilities C. d. Property, plant, and equipment Intangible assets h. Paid-in capital 1. Retained earnings e. Other assets Required: For each of the following 2021 balance sheet items, use the letters above to indicate the appropriate classification category. (If the item is a contra account, select the appropriate letter with a minus sign.) 12345678 1. Interest payable (due in 3 months) 10. Supplies 2. Franchise 11. Machinery 3. Accumulated depreciation. 12 4. Prepaid insurance (for 2022) 13 5. Bonds payable (due in 10 years) 14. 6. Current maturities of long-term debt 15. Land (used in operations) Deferred revenue (for 2022) Copyrights Common stock 7. Notes payable (due in 3 months) 16. Land (held for speculation) 8. Long-term receivables 17. Cash equivalents 9. Restricted cash (will be used to retire bonds in 10 years) 18. Salaries payable