Saputo Inc. is Canada€™s leading processor of dairy products. The company produces, markets, and distributes a wide array of products of the utmost quality, including cheese, fluid milk, yogurt, dairy ingredients, and snack- cakes. Saputo€™s products are distributed in many countries, primarily in Canada, the United States, and Argentina. The following are several of the accounts that appeared on the company€™s recent statement of financial position:

Required:
For each account, indicate how it normally should be categorized on a classified statement of financial position. Use CA for current asset, NCA for non- current asset, CL for current liability, NCL for non- current liability, and SE for shareholders€™ equity. Also indicate whether the account normally has a debit or a credit balance.

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Statement of Financial Position Classification Debit or Credit Balance Account 1. Cash and cash equivalents 2. Deferred income tax labilities 3. Retained earnings 4. Income taxes payable 5. Prepayments 6. Contributed capital 7. Trademarks and other intangibles 8. Trade payables 9. Accrued liabilities 10. Bank loans (short term) 1. Property, plant, and equipment 12. Long-term investments 13. Trade receivables 14. Long-term borrowings