Classify each of the following financial statement items based upon the major balance sheet classifications.
 Current assetsStockholders’ equityLong term liabilitiesIntangible assetsCurrent liabilitiesLong term investmentsProperty, plant, and equipment |
Prepaid advertising | |
| Stockholders’ equityLong term liabilitiesIntangible assetsCurrent assetsCurrent liabilitiesLong term investmentsProperty, plant, and equipment |
Equipment | |
| Stockholders’ equityCurrent liabilitiesIntangible assetsCurrent assetsLong term investmentsLong term liabilitiesProperty, plant, and equipment |
Trademarks | |
| Current assetsIntangible assetsLong term investmentsLong term liabilitiesCurrent liabilitiesProperty, plant, and equipmentStockholders’ equity |
Salaries and wages payable | |
| Stockholders’ equityLong term liabilitiesProperty, plant, and equipmentIntangible assetsCurrent assetsCurrent liabilitiesLong term investments |
Income taxes payable | |
| Current liabilitiesLong term investmentsIntangible assetsLong term liabilitiesCurrent assetsProperty, plant, and equipmentStockholders’ equity |
Retained earnings | |
| Stockholders’ equityLong term liabilitiesCurrent assetsProperty, plant, and equipmentIntangible assetsCurrent liabilitiesLong term investments |
Accounts receivable | |
| Property, plant, and equipmentCurrent liabilitiesLong term liabilitiesCurrent assetsStockholders’ equityLong term investmentsIntangible assets |
Land (held for future use) | |
| Intangible assetsLong term investmentsCurrent liabilitiesCurrent assetsLong term liabilitiesProperty, plant, and equipmentStockholders’ equity |
Patents | |
| Stockholders’ equityIntangible assetsCurrent assetsCurrent liabilitiesLong term investmentsLong term liabilitiesProperty, plant, and equipment |
Bonds payable | |
| Property, plant, and equipmentLong term investmentsCurrent assetsLong term liabilitiesIntangible assetsStockholders’ equityCurrent liabilities |
Common stock | |
| Intangible assetsStockholders’ equityCurrent liabilitiesLong term liabilitiesCurrent assetsLong term investmentsProperty, plant, and equipment |
Accumulated depreciation—equipment | |
| Stockholders’ equityLong term liabilitiesProperty, plant, and equipmentIntangible assetsLong term investmentsCurrent assetsCurrent liabilities |
Unearned sales revenue | |
| Long term liabilitiesStockholders’ equityCurrent assetsProperty, plant, and equipmentIntangible assetsCurrent liabilitiesLong term investments |
Inventory |