A first-year accounting student is confused by a statement made in a recent class. The instructor stated that assets listened in the balance sheet of IBM Corporation include computers that are classified as current assets as well as computers that classified as long-term (noncurrent) assets. In addition, the instructor stated that investments in equity securities of other corporations could be classified in the balance sheet as either current or long-term assets. Explain to the student the distinction between current and long-term assets pertaining to IBM computers and the investments in equity securities.