Application Problem 1-5B Use the following abbreviations to answer this question: CA Current assets NCA Non-current assets CL Current liabilities NCL Non-current liabilities SC Share capital RE Retained earnings SI Statement of income item SCF Statement of cash flows item SCE Statement of changes in equity item Classify the following items according to where they would appear in the financial statements: a. Rent payable b. Amounts owed by customers of the company C. Administrative expense d. Proceeds received from taking out a long-term bank loan e Office supplies f. Net earnings for the year g. Cash proceeds from the sale of old equipment h. Increase in the cash balance for the year i. Income taxes expense j. Cost to the company of inventory sold to customers this year k. Proceeds from issuing common shares during the year