Elements of the financial statements. The following accounts and balances were taken from the financial statements of Brand Names at a Discount Inc. For each item, identify the financial statement(s) on which the item would appear. Then, identify each balance sheet item as an asset, a liability, or a shareholders” equity account.( LO 3)

Van

$50,000

Interest receivable

32,500

Cash

78,000

Short-term notes payable

15,875

Net cash from operating activities

28,000

Building

3 1,853

Common stock

75,000

Retained earnings

100,000

Net cash from investing activities

40,000

Interest payable

650

Long-term mortgage payable

85,000

Salaries payable

1315

Net cash from financing activities

10,000