Classification of Financial Statement Items Carnival Corporation & plc is one of the largest cruise companies in the world with such well-known brands as Carnival Cruise Lines, Holland America Line, and Princess Cruises. Classify each of the following items found on the company’s November 30, 2008, balance sheet as a current asset (CA), noncurrent asset (NCA), current liability (CL), long-term liability (LTL), or stockholders’ equity (SE) item.
________1. Trade and other receivables, net
________ 2. Common stock of Carnival Corporation
________ 3. Short-term borrowings
________ 4. Inventories
________ 5. Property and equipment, net
________ 6. Prepaid expenses and other
________ 7. Accounts payable
________ 8. Goodwill
________ 9. Retained earnings
________ 10. Long-term debt