Exercise 3-8 (Algo) Balance sheet; current versus long-term classification (LO3-2, 3-3) Cone Corporation is in the process of preparing its December 31, 2021, balance sheet. There are some questions as to the proper classification of the following items! a. $66,000 in cash restricted in a savings account to pay bonds payable. The bonds mature in 2025. b. Prepaid rent of $40,000, covering the period January 1, 2022, through December 31, 2023 c. Notes payable of $232,000. The notes are payable in annual installments of $36,000 each, with the first installment payable on March 1, 2022 d. Accrued interest payable of $28,000 related to the notes payable. e. Investment in equity securities of other corporations, $112,000. Cone intends to sell one-half of the securities in 2022 Required: Prepare the asset and liability sections of a classified balance sheet to show how each of the above items should be reported, CONE CORPORATION Balance Sheet (Partia) At December 31, 2021 Assets Current assots: Investments Other assots Required: Prepare the asset and liability sections of a classified balance sheet to show how each of the above items should be reported. CONE CORPORATION Balance Sheet (Partial) At December 31, 2021 Assets Current assets: Investments: Other assets: Liabilities and Shareholders' Equity Current liabilities: Long-term liabilities