The capital gains (losses) netting process for taxpayers without 25 or 28 percent capital gains requires them to (1) net short-term gains and losses, (2) net long-term gains and losses, and (3) net the outcome of steps (1) and (2) if they are of similar sign. Group startsTrue or FalseTrue, unselectedFalse, unselected

Suppose the following items were taken from the 2017 financial statements of whispering winds corp.. (all dollars are in millions.) common stock $3,230 accumulated depreciation—equipment $3,940 prepaid rent 175 accounts payable 1,560 equipment 6,940 patents 2,270 stock investments (long-term) 670 notes payable (long-term) 780 debt investments (short-term) 1,740 retained earnings 6,175 income taxes payable 150 accounts receivable 1,740 cash 1,290 inventory 1,010 prepare a classified balance sheet in good form as of december 31, 2017. (list current assets in order of liquidity.)