14. The following accounts and balances were taken from the 2020 financial statements of Global2, Inc. (in millions). Identify each account as an asset (A), liability (L), stockholder's equity (SE), revenue (R), or an expense (E). Retained Earnings Cost of Goods Sold Selling & Admin Expenses Cash Notes Payable Interest Expense Other Expenses 1,564.7 4,128.5 3,523.6 231.8 513.3 351.5 54.0 Long-term Debt Inventories Net Sales Accounts Payable Common Stock Income Tax Expense 5,619.0 574.5 8,853.3 577.5 103.8 322.1 Prepare an income statement for the year ended December 31, 2020. 15. Red Corp, had the following balances on December 31, 2017 (in thousands of dollars): Prepaid Expenses Land (using in business) Land (no plans to develop) Trademarks Equipment Short-term Investments 157,801 Buildings 54,774 Cash and Cash Equivalents 755,510 Accounts Receivable 2,765,892 Accumulated Depreciation 2,947,978 Long-term Investment in Purple Corp. 5,371 878,028 138,849 1,383,550 1,712,400 251,836 Prepare the asset section of a classified balance sheet in proper form. 16. Chap2, Inc. has the following balances on December 31, 2020 (except for Retained Earnings): Building Accounts receivable Prepaid insurance Cash Equipment Dividends Land Insurance expense Depreciation expense Patent 105,800 12,600 4,680 20,840 82,400 1,300 57,200 Interest expense Common stock Retained Earnings (January 1, 2020) Accumulated depreciation - building Accounts payable Mortgage payable Accumulated depreciation - equipment Interest payable Bowling revenues Long-term Investment in New Book Stock 2,600 67,300 40,000 45,600 11,500 93,600 18,720 3,600 18,180 3,000 6,300 1,000 Prepare a classified balance sheet, assuming that $11,300 of the mortgage will be paid in 2021