The balance sheet reports land at $100,000. Included in this amount is a piece of property purchased for a future warehouse site at a cost of $30,000 and a speculative land investment at a cost of $50,000.Current liabilities include $50,000 for long term debt that comes due in three months. The company has received a suitable firm commitment to refinance the debt for five years and intends to do so.Investments in marketable securities include $20,000 in short-term high-grade commercial paper which the company states is cash.What is the appropriate classification of the above items and how should they be disclosed in a financial statement?