(Solved): Classify the following items according to where they would appear in the financial statemer a. Rent ...

Classify the following items according to where they would appear in the financial statemer 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 tax expense j. Cost to the company of inventory sold to customers this year k. Proceeds from issuing common shares during the year Use the following abbreviations to answer this question: $\begin{array}{ll}\text{ CA }& \text{ Current assets }\\ \text{ NCA }& \text{ Non-current assets }\\ \text{ CL }& \text{ Current liabilities }\\ \text{ NCL }& \text{ Non-current liabilities }\\ \text{ SC }& \text{ Share capital }\\ \text{ RE }& \text{ Retained earnings }\\ \text{ SI }& \text{ Statement of income item }\\ \text{ SCF }& \text{ Statement of cash flows item }\\ \text{ SCE }& \text{ Statement of changes in equity item }\end{array}$