The following are the typical classifications used in a balance sheet: a. Current assets f. Current liabilities b. Investments and funds c. Property, plant, and equipment g. Long-term liabilities h. Paid-in-capital d. Intangible assets. 1. Retained earnings 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 a contra account, select the appropriate letter with a minus sign.) 1. Equipment 10. Inventories 2. 11. Patent Accounts payable 12. 3. Allowance for uncollectible accounts Land, in use 13. Accrued liabilities Land, held for investment Note payable, due in 5 years 14. Prepaid rent for the next 9 months Common stock Deferred rent revenue for the next 12 months 15. Note payable, due in 6 months 16. Building, in use 17. Cash Income less dividends, accumulated Investment in XYZ Corp., long-term 18. Taxes payable 4. 5. 6. 7. 8. 9