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ce EXERCISES E2-1 The following are the major balance sheet classifications. Current assets (CA) Long-term investments (LTI) Current liabilities (CL) Long-term liabilities (LTL) Stockholders' equity (SE) Property, plant, and equipment (PPE) Intangible assets (IA) Instructions Classify each of the following financial statement items taken from Ming Corporation's balance sheet. Accounts payable Income taxes payable Accounts receivable Inventory Accumulated depreciation- equipment Stock investments (to be sold in 7 months) Land (in use) Buildings Mortgage payable Cash Supplies Interest payable Goodwill Equipment Prepaid rent PA